econ test

WHat is it called when a public good is depleted due to people acting out of self interest

• tragedy of the commons

• over regulation

• under regulation

• eminent domain

WHat is eminent domain

• A person's ability to repossess someone's child

• The governments ability to seize a persons private property

• The governments ability to declare war

• none of these

WHat happened in the case of Kelo vs. The town of New London

• The supreme court ruled in favor of Kelo

• The supreme court ruled in favor of the town

• The supreme court could not make a decision

• none of these

WHich of the following is an example of the government providing for the public good?

• providing for a national defense

• providing a tax break to grocery stores

• taxing people making over $100,000 per year at a higher rate

• none of these

Governments can provide services that can not be effectively provided by the public sector

• true

• false

• Unsure

• none of these

WHat is a concurring opinion

• An opinion that agrees with the minority opinion

• An opinion that agrees with the majority opinion

• Having no opinion at all

• none of these

What is a dissenting opinion

• An opinion that agrees with the majority opinion

• An opinion that disagrees with the majority opinion

• No opinion at all

• None of these

WHat does the government do to determine what the public needs

• A cost benefit analysis

• Take a poll of everyones opinion

• They dont do anything

• None of these

Which of the following is NOT something a government does to provide for the public good in the economy

• provide for a national defense

• Build dams

• Make take special takes breaks for teachers

• build roads

In a situation in which the a government exercises the power of eminent domain, the citizen is compensated for giving up their land/property

• true

• false

• depends

• none of these