It Is Commonly Argued That National Defense Is a Public

question 38

Multiple Choice

It is commonly argued that national defense is a public good. Nevertheless, the weapons used by the U.S. military are produced by private firms. We can conclude that

• A)resources would be used more efficiently if the government produced the weapons.
• B)resources would be used more efficiently if private firms provided national defense.
• C)weapons are rival in consumption and excludable, but national defense is not rival in consumption and not excludable.
• D)national defense is rival in consumption and excludable, but weapons are not rival in consumption and not excludable.

---

Definitions:

Fairness

implies impartial and just treatment or behavior without favoritism or discrimination.

UCC

The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across U.S. states.

Inventory

The complete list of items such as goods, materials, and merchandise that a business holds with the intent to sell.

CPA

Certified Public Accountant, a professional designation given to qualified accountants who have passed a licensing examination in their jurisdiction.