Market Failure & Role of Government [AP (Advanced Placement) Microeconomics]: Questions 1 - 3 of 30

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Question 1

Market Failure & Role of Government

Appeared in Year: 2017 (NET)

Question

MCQ▾

With reference to the characteristics of non excludability and non rivalry, Law and Order is an example of:

Choices

Choice (5)Response

a.

Negative externality

b.

A public good

c.

Increasing returns a public good

d.

A positive externality

e.

None of the above

Question 2

Market Failure & Role of Government

Appeared in Year: 2014 (NET)

Question

Match List-Ⅰ List-Ⅱ▾

Match the items given in List – I with those in List – II: (June)

List-Ⅰ (Group I)List-Ⅱ (Group II)
(A)

Impossibility theorem

(i)

Kenneth Arrow

(B)

Optimum provision of local Public goods

(ii)

James Buchanan

(C)

Political of Decision Making Model

(iii)

Charles Tiebout

(D)

Theory of Clubs

(iv)

Anthony Downs

Choices

Choice (5)Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (iii)
  • (ii)
  • (iv)
  • (i)

b.

  • (iv)
  • (ii)
  • (iii)
  • (i)

c.

  • (i)
  • (iii)
  • (iv)
  • (ii)

d.

  • (i)
  • (ii)
  • (iii)
  • (iv)

e.

All of the above

Question 3

Market Failure & Role of Government

Appeared in Year: 2017 (NET)

Question

MCQ▾

A public good is

(i) Non excludable in nature

(ii) Non rival in consumption

(iii) Excludable in nature

(iv) A good that public must possess

Select the correct answer from answer form the codes given below:

Choices

Choice (5)Response

a.

Only (iv)

b.

(i) and (ii)

c.

(iii) and (iv)

d.

Only (iii)

e.

All of the above

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