Economists Typically View Government-Supported Programs Such as Arts and Movies

question 50

Multiple Choice

Economists typically view government-supported programs such as arts and movies as:

• A) efficient; these are public goods that would be underproduced in the market.
• B) inefficient; if people valued these things they should be willing to pay for them.
• C) efficient; the cost to the government to produce these goods is less than the private sector because of economies of scale.
• D) inefficient; government provision of these goods is not fair nor equal.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.