Why Is Basic Research a Public Good

question 46

Multiple Choice

Why is basic research a public good

• A)It is difficult to exclude those who might benefit from it.
• B)It is used to develop public goods.
• C)It always benefits developed countries at the expense of developing countries.
• D)It is a rival in consumption good.

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Definitions:

Compensating Differential

Additional pay or benefits provided to employees to offset unpleasant aspects of a job.

Human Capital

Expertise, knowledge, and learned experiences of an individual or demographic, evaluated based on their monetary significance or cost to an entity or nation.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various forms of instruction or training.

Wage Gap

The difference in earnings between two or more groups, often measured to assess disparities between genders, ethnicities, or other demographic categories.