Market Failure & Role of Government [AP (Advanced Placement) Microeconomics]: Questions 1 - 4 of 39
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Question 1
Appeared in Year: 2017
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
Appeared in Year: 2014
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. |
| |
e. | All of the above |
Question 3
Appeared in Year: 2017
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 |
Question 4
Appeared in Year: 2014
Question MCQ▾
Which of the following methods would be used for estimation of price change of a house due to either pollution or good environment like existence of park and scenic beauty? (June)
Choices
Choice (5) | Response | |
---|---|---|
a. | Contingent Valuation Method | |
b. | Externality Effects | |
c. | Hedonic Method | |
d. | All of the above | |
e. | None of the above |