Distinction Between Public Goods and Private Goods Assignment

Distinction Between Public Goods and Private Goods Assignment

Order ID	53003233773
Type	Essay
Writer Level	Masters
Style	APA
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Perfect Number of Pages to Order	5-10 Pages

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Distinction Between Public Goods and Private Goods Assignment
Which of the following is not a goal of macro intervention?
Economic growth.
Price stability.

Full employment.
Market power.
The distinction between public goods and private goods is based on:
Who produces the goods.
The link between payment and consumption.

How much the goods cost.
Government regulation.
Patents and copyrights contribute to market power for a firm.
FALSE
TRUE
In a market economy, producers will produce the goods and services that:
Consumers demand.
Are least expensive to produce.

The government finds most beneficial.
Consumers need the most.
If you play your music too loud and your neighbor cannot study, this is an example of a negative externality.
FALSE
TRUE
Even if society is producing a combination of goods and services on the production possibilities curve, it may not be producing the optimal mix of output.
TRUE
FALSE
Macro instability refers to the underproduction of public goods.
TRUE
FALSE
A distinguishing characteristic about public goods is that they can be jointly consumed.
FALSE
TRUE
Figure 9.2

In Figure 9.2, the market demand curve is above the social demand curve because:
There are internal costs associated with cigarette smoking.
The external costs of cigarette smoking are being passed on to those who do not smoke.

Positive externalities are being passed on to those who do not smoke.
There are free riders associated with cigarette smoking
Figure 9.2

Based on Figure 9.2:
All the costs associated with cigarette smoking are paid by those who smoke.
There are external costs associated with cigarette smoking.

Social costs and private costs for cigarette smoking are equal.
Cigarette smoking results in equity issues.
The free-rider dilemma is associated with:
Externalities.
Private goods.

Public goods.
Market power.
Which of the following is not an example of market failure?
Government intervention.
Market power.

Public goods.
Externalities.
The problem with public goods is that those who do not pay receive:
None of the good.
More of the good than those who pay.

Some of the good but less than those who pay.
The same amount of the good as those who pay.
In Figure 9.3, if the rate of output is 320 units:
Social costs exceed private costs.
External costs equal private costs.

Social costs equal private costs.
Private costs exceed social costs.

Externalities are always harmful to third parties.
FALSE
TRUE
Which of the following is an example of the price effect during a period of inflation?
You own municipal bonds that pay a low interest rate while the price level is rising.
Your income increases, but not as rapidly as the price level does.

You own a house, and its value rises more rapidly than the price level does.
You buy a lot of gasoline, and the price of gasoline rises more rapidly than the price level does.
Which of the following is characteristic of a downturn in the business cycle?
Lower unemployment rates
A decrease in real output

A decrease in population
An increase in population
Suppose that at the start of this year you got a salary increase of 10 percent from your employer. The prices of the goods and services you typically purchase increase 10 percent during the year. At the end of the year you have experienced on balance:
Higher real income but lower nominal income.
No change in real income.

Higher real income and higher nominal income.
No change in nominal income.
Immediately following the years 1929-1933, the U.S. economy:
Resumed growing at the long-term trend for real GDP of 6 percent.
Grew dramatically and steadily over a 20-year period with a record long growth period.

Experienced World War II, which resulted in rapid growth and rapid deflation.
Suffered sporadic decreases in the growth rate of GDP, which led to lower GDP per capita.
When there is no deflation or inflation in an economy:
Full employment is achieved.
Relative prices remain unchanged.

Average prices remain unchanged.
Prices of all goods change by the same percentage.
Alternating periods of growth and contraction in real GDP define:
The business cycle.
Macro equilibrium.

Capitalism.
Inflation.
The Great Depression in the United States:
Caused real GDP to fall dramatically between 1929 and 1933.
Was marked by hyperinflation.

Was ended by World War I.
Ended with a higher real GDP per capita than when it began.
Which of the following is likely if an economy is in a recession or headed for one?
An increase in consumer confidence
An increase in the rate of inflation

An increase in the rate of output
An increase in unemployment

Distinction Between Public Goods and Private Goods Assignment

Which of the following is not a goal of macro intervention?

	Economic growth.
	Price stability.

 

	Full employment.
	Market power.

The distinction between public goods and private goods is based on:

	Who produces the goods.
	The link between payment and consumption.

 

	How much the goods cost.
	Government regulation.

Patents and copyrights contribute to market power for a firm.

	FALSE
	TRUE

In a market economy, producers will produce the goods and services that:

	Consumers demand.
	Are least expensive to produce.

 

	The government finds most beneficial.
	Consumers need the most.

If you play your music too loud and your neighbor cannot study, this is an example of a negative externality.

	FALSE
	TRUE
Even if society is producing a combination of goods and services on the production possibilities curve, it may not be producing the optimal mix of output. TRUE   FALSE Macro instability refers to the underproduction of public goods. TRUE   FALSE A distinguishing characteristic about public goods is that they can be jointly consumed. FALSE TRUE Figure 9.2 In Figure 9.2, the market demand curve is above the social demand curve because: There are internal costs associated with cigarette smoking.   The external costs of cigarette smoking are being passed on to those who do not smoke.   Positive externalities are being passed on to those who do not smoke. There are free riders associated with cigarette smoking Figure 9.2 Based on Figure 9.2: All the costs associated with cigarette smoking are paid by those who smoke. There are external costs associated with cigarette smoking.   Social costs and private costs for cigarette smoking are equal. Cigarette smoking results in equity issues. The free-rider dilemma is associated with: Externalities.   Private goods.   Public goods.   Market power. Which of the following is not an example of market failure? Government intervention. Market power.   Public goods. Externalities. The problem with public goods is that those who do not pay receive: None of the good.   More of the good than those who pay.   Some of the good but less than those who pay.   The same amount of the good as those who pay. In Figure 9.3, if the rate of output is 320 units: Social costs exceed private costs.   External costs equal private costs.   Social costs equal private costs.   Private costs exceed social costs.

Externalities are always harmful to third parties.

	FALSE
	TRUE

Which of the following is an example of the price effect during a period of inflation?

	You own municipal bonds that pay a low interest rate while the price level is rising.
	Your income increases, but not as rapidly as the price level does.

 

	You own a house, and its value rises more rapidly than the price level does.
	You buy a lot of gasoline, and the price of gasoline rises more rapidly than the price level does.

Which of the following is characteristic of a downturn in the business cycle?

	Lower unemployment rates
	A decrease in real output

 

	A decrease in population
	An increase in population

Suppose that at the start of this year you got a salary increase of 10 percent from your employer. The prices of the goods and services you typically purchase increase 10 percent during the year. At the end of the year you have experienced on balance:

	Higher real income but lower nominal income.
	No change in real income.

 

	Higher real income and higher nominal income.
	No change in nominal income.

Immediately following the years 1929-1933, the U.S. economy:

	Resumed growing at the long-term trend for real GDP of 6 percent.
	Grew dramatically and steadily over a 20-year period with a record long growth period.

 

	Experienced World War II, which resulted in rapid growth and rapid deflation.
	Suffered sporadic decreases in the growth rate of GDP, which led to lower GDP per capita.

When there is no deflation or inflation in an economy:

	Full employment is achieved.
	Relative prices remain unchanged.

 

	Average prices remain unchanged.
	Prices of all goods change by the same percentage.

Alternating periods of growth and contraction in real GDP define:

	The business cycle.
	Macro equilibrium.

 

	Capitalism.
	Inflation.

The Great Depression in the United States:

	Caused real GDP to fall dramatically between 1929 and 1933.
	Was marked by hyperinflation.

 

	Was ended by World War I.
	Ended with a higher real GDP per capita than when it began.

Which of the following is likely if an economy is in a recession or headed for one?

	An increase in consumer confidence
	An increase in the rate of inflation

 

	An increase in the rate of output
	An increase in unemployment

Distinction Between Public Goods and Private Goods Assignment

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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