Public Broadcasting Refers to Any Television, Radio, and Digital Media

question 62

Multiple Choice

Public broadcasting refers to any television, radio, and digital media that

• A)receives funding from the public through license fees, subsidies, or tax dollars.
• B)reports extensively on government officials and political issues.
• C)sells subscriptions to members of the public.
• D)makes its content available to the public at no cost.

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Definitions:

Income Effect

The change in consumption resulting from a change in real income, which can stem from increases or decreases in wages, or from price changes affecting the purchasing power of income.

Substitution Effect

The change in consumption resulting from a change in the price of a product, leading consumers to substitute that product with another.

Income Effect

The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.

Opportunity Cost

The cost of not choosing the next best alternative when making a decision.