Which of the Following Statements Is True About Public Goods

question 34

Multiple Choice

Which of the following statements is true about public goods?

• A)They are always produced by the government.
• B)The market-determined output is efficient.
• C)The government can hire a private entity to produce a public good.
• D)Nonexcludability is sufficient condition for a good to classified as a public good.

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Definitions:

Duty to Society

The responsibility of individuals and organizations to act in the best interests of the community at large, contributing positively to the welfare of others.

Social Contract

A theoretical agreement within a society or between the governed and the government, defining and limiting the rights and duties of each.

Relativist

An individual or doctrine emphasizing the belief that points of ethical and moral significance are relative to individual cultures or personal perspectives.

Ethical Perspective

A viewpoint or angle from which ethical concerns and principles are analyzed and considered.