Which of the Following Is True of Public Goods

question 66

Multiple Choice

Which of the following is true of public goods?

• A) They can only be supplied by the government.
• B) They will tend to be supplied efficiently by the private sector when markets are competitive.
• C) It is difficult to establish a one-to-one link between payment and receipt of such goods.
• D) From an efficiency standpoint, private markets will tend to supply an excessively large amount of public goods.

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Definitions:

Environmental Differences

Variations in the physical, social, or cultural environment that can influence individuals' behavior and development.

Genetic Explanations

Descriptions or theories that attribute the cause of certain traits, behaviors, or conditions to genes and hereditary factors.

Heritability Estimates

Statistical measures that indicate what proportion of variance in a trait among individuals in a population can be attributed to genetic differences.

Racial Differences

Variations or disparities among races in aspects such as physical characteristics, culture, history, and social experiences.