L12 Public Goods

Multiple Choice

Which of the following is an example of an ordinary private good?

• Furniture

• The Internet

• Water

• Cable TV

Multiple Choice

Which of the following is an example of a club good?

• Streetlights

• A Diamond Ring

• Forests

• Cable TV

Multiple Choice

Which of the following is an example of a public good?

• Fish in the ocean

• National Defense

• Music downloads

• Designer Clothes

Multiple Choice

Kalen's dominant strategy is

• Contribute

• Don't Contribute

• There is no dominant strategy

Multiple Choice

The Nash Equilibrium of this game is

• Both Kalen and Grace Contribute

• Kalen contributes but Grace doesn't

• Grace contributes but Kalen doesn't

• Neither Kalen nor Grace contributes

Multiple Choice

The outcome that maximizes Grace and Kalen's total benefit is when:

• Both Kalen and Grace Contribute

• Kalen contributes but Grace doesn't

• Grace contributes but Kalen doesn't

• Neither Kalen nor Grace contributes

Multiple Choice

This game is an example of:

• Chicken

• Assurance

• Prisoner's Dilemma

• Battle of the Sexes

Vaccine Herd Immunity: A public good?

Multiple Choice

Parents who do not have their children immunized and attempt to benefit from other parents who did have their own children immunized are exhibiting an economic behavior known as

• Excludability

• Free Riding

• Public Rivalry

• Selfishness