Question

1. A society with an income Gini Coefficient value close to 1...

a. Represents absolute equality
b. Represents a society that is more equal than a society with a Gini Coefficient of 0.5
c. Has a very high level of income inequality d. Has a very low level of income inequality

2. Governments use tax policy to...
a. Generate revenue
b. Influence consumption choices
c. Offset social harm caused by negative externalities
d. All of the above

3. What are two characteristics of a common property resource?
a. Rival and non-excludable
b. Rival and excludable
c. Non-rival and non-excludable
d. Non-rival and excludable

4. Hydraulic Fracking is the process of drilling and injecting fluid into the ground at a high pressure in order to fracture shale rocks to release natural gas inside to be sold as an energy source. Up to 600 chemicals are used in fracking fluid, including known carcinogens and toxins. This is an example of a...
a. Negative production externality
b. Negative consumption externality
c. Positive production externality
d. Positive consumption externality

5. Which one of the following is the best example of an artificially scarce good?
a. National defense
b. An apple
c. Computer software
d. A national park​

Answer 1

c. Has a very high level of income inequality

d. All of the above

a. Rival and non-excludable

a. Negative production externality

c. Computer software

Step-by-step explanation: