Question

Some economists argue that private firms will not undertake the efficient amount of basic scientific research and not rival in consumption public good Because general knowledge is not excludable This means the benefits of it is a basic scientific research available to many people. The private firm doesn't take this into account when choosing how much are research to undertake. Which of the following policies has the United States adopted in response to this problem? Check all that apply A progressive income tax Taxing revenue from the National Science Foundation Subsidizing research through the National Institutes of Health It is often argued that this policy increases the technological capability of American producers relative to that of foreign firms. rival in consumption This is true only if the knowledge provided by basic research is

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Answer 1

Blanks are answered in order

Not excludable, not rival in consumption, public good, are, does not

Subsidizing research through the national institute of health.

Excludable