Each of the Following Has Contributed to the Growing Number

question 55

Multiple Choice

Each of the following has contributed to the growing number of homeless people except

• A)the rising crime rate.
• B)gentrification of the cities.
• C)the decline in the number of entry-level factory jobs.
• D)the deinstitutionalization of the mentally ill.
• E)the decline in the availability of cheap housing.

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Definitions:

Economic Goods

Products or services that have a positive economic value and thus are subject to scarcity, requiring consumers to make choices about their allocation.

Taxes

Compulsory contributions to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.

Economic Efficiency

A situation where resources are utilized in such a manner that maximizes the satisfaction of needs and wants with minimal waste or inefficiency.

Public Good

A public good is a commodity or service that is made available to all members of a society, typically free of charge, funded by taxes, and characterized by non-excludability and non-rivalry.