A True Public Good Is Characterized by

question 128

Multiple Choice

A true public good is characterized by

• A)depletability but not excludability.
• B)excludability but not depletability.
• C)both depletability and excludability.
• D)neither depletability nor excludability.

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Definitions:

Expected Value

The predicted average outcome of a random variable, computed as the weighted average of all possible values.

Stratified Random Sampling

A probability sampling method in which the population is first divided into strata and a simple random sample is then taken from each stratum.

Strata

Subsets of a population that are known to be homogeneous with respect to some characteristic, used in stratified sampling.

Frame

A listing of the elements the sample will be selected from.