Economics Mcqs — Test 38
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Question 1
A person who regularly watches BBC television programs in the UK but fails to pay their TV licence fee is known as ?
Question 2
A public good is ?
Question 3
A good produced by a natural monopoly is ?
Question 4
A common resource is ?
Question 5
Suppose each of 20 neighbours on street values street repairs at €3000 the cost of the street repair is €40,000 which of the following statements is true ?
Question 6
Which of the following is an example of a public good ?
Question 7
Suppose that requiring motorcycle riders to wear helmets reduces the probability of a motorcycle fatality from 0.3 percent to 0.2 percent over the lifetime of a motorcycle rider and that the cost of lifetime supply of helmets is Rs5000. It is efficient for the government to require riders to wear helmets if human life is valued at ?
Question 8
When government employ cost-benefit analysis to help them decide whether to provide a public good, measuring benefits is difficult because ?
Question 9
The Tragedy of the Commons is a parable that illustrates why?
Question 10
Which of the following is an example of a reason why firms might pay efficiency wages ?