ECN 2110 Week 7 Quiz | Assignment Help | Baker College
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- 20 Mar 2021
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- Accounting & Economics Assignment Help / Microeconomics
ECN 2110 Week 7 Quiz | Assignment Help | Baker College
Module 7A Quiz
Question 1
______________________
describes a situation where a third party, outside the transaction, suffers
from a market transaction by others.
o
Negative externality
o
Positive externality
o
A spillover
o
A market failure
Question 2
Command-and-control
regulation is a body of law that
o
fails to consider private costs of
firms.
o
specifies allowable quantities of
pollution.
o
details which pollution-control
technologies must be used.
o
can include both b and c.
Question 3
Which of the following
would be classified as a situation where a third-party benefits from a market
transaction by others?
o
City buying 10,000 trees for green space
renewal projects.
o
Increased levels of air pollution in
neighborhoods near a football stadium.
o
Allowing a mining company to use a
natural lake to discharge waste.
o
Two firms trading pollution credits to
avoid cutting their toxic emissions.
Question 4
Because of the nature
of the comprehensive environmental laws adopted during the late 1960s and early
1970s by the United States government, these laws are typically referred to as
______________________.
o
positive regulations
o
command and control regulations
o
control and command regulations
o
negative regulations
Question 5
The refundable charge
of 5 or 10 cents for returning recyclable cans and bottles works like
o
an incentive to throw bottles and cans
in the trash.
o
command-and-control regulation.
o
a market permit program.
o
a pollution tax incentive to avoid
littering.
Question 6
A public good is a good
that is _____________________, and thus is difficult for market producers to
sell to individual consumers.
o
nonexcludable and nonrivalrous
o
excludable and rivalrous
o
unexcludable or unrivaled
Question 7
Which of the following
would most likely be identified as being the ultimate goal of public policies
that pertain to technology?
o
to help inventors earn higher rates of
return
o
to help inventors earn reasonable
returns
o
to encourage a stream of inventions that
monetarily benefit the inventor.
o
to encourage a stream of invention that
benefits the whole of society.
Question 8
Which of the following
circumstances would encourage I’MaPharmaCo. to increase research and
development activities?
o
cost of financial capital is high
o
patent term expires in 20 years
o
cost of financial capital is low
o
a low rate of return is likely
Question 9
Which of the following
mechanisms will increase the rate of return that can be earned by inventors of
new technology?
o
intellectual property rights
o
government research and development
grants
o
cooperative research ventures between
companies
o
patents, copyrights, and each of the
above
Question 10
There is a skating rink
in your city that is open to anybody to use at any time. They even provide
skates for people who don't own any. This is an example of a good that is
o
rivalrous and nonexcludable
o
nonrivalrous and excludable
o
rivalrous and excludable
o
nonrivalrous and nonexcludable
USA 
India