St. Philips College

ECON 101

Chapter 4

1)Which of the following justifies the federal government's role in antitrust enforcement?

2. An externality affecting demand can be measured graphically as the

3. Which of the following is a merit good?

4. Governments usually build highways because it is difficult to exclude individuals who don't pay for the highways from using them. What type of market failure is involved?

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

6. The federal government's role in providing aid to the poor and the aged is justified because of concerns about

7. The market tends to underproduce public goods because

8. A monopoly occurs when

9. A proportional tax is one that

10. When market failure occurs, the role of government is to

11. Which of the following is a merit good?

12. The federal government's role as the provider of national defense is justified by considerations of
13. Which of the following properly ranks the size of tax revenues received by the federal government from highest to lowest?

14. The fastest-growing areas for state expenditures are

15. A merit good is