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Higher education provided by government is an example of a public good merit good

 Higher education provided by government is an example of a

a.public good

b.merit good

c.social good

d.collective good

e.private good

82.              A transfer payment occurs when the government

a.transfers money between federal banks and state banks

b.shifts income from one group of people to another

c.buys goods and services

d.transfers money from one group of workers to another group of workers

e.buys goods to transfer them to other groups of consumers

83.              If a good has the quality that its benefits cannot be denied to anyone, then that good is

a.nonrival

b.merit

c.exclusive

d.nonexclusive

e.social

 

 

84.              Social Security is an example of a(n)

a.annuity

b.public payment

c.exclusive payment

d.merit payment

e.transfer payment

85.              If you were told that the largest expenditure category of Canada’s federal budget is the
                            same category as in the U.S. federal government’s budget, you would know it is

a.national defense

b.net interest

c.education

d.health and hospitals

e.income support, social security, and welfare

86.              Slightly less than _____ percent of federal government spending in 2010was for the
                            purchase of goods and services.

a.75

b.50

c.30

d.10

e.5

87.              Approximately _____ percent of state and local spending in 2010was for the purchase of
                            goods and services.

a.90

b.70

c.40

d.15

e.5

88.              Public libraries, art galleries, and the National Institutes of Health are examples of

a.merit goods

b.public goods

c.social goods

d.private goods

e.exclusive goods

89.              What properties distinguish private goods from public goods?

a.preventive and curative

b.exclusiveness and rivalry

c.social and cooperative

d.merit and lack of merit

e.market and nonmarket

90.              Approximately ____ percent of federal government spending in 2001was for transfer
                            payments and interest payments.

a.5

b.10

c.60

d.30

e.75

Feb 11 2020 View more View Less

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