The productivity of the employees of a bakery is reduced because of the excessive noise coming from a next door car repair shop. This is an example of
A) synergy.
B) a positive externality.
C) a negative externality.
D) happy coexistence.
C
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A radio station is best described as
A) an end user in a transaction-based market. B) a platform in an audience-making market. C) an end user in a matchmaking market. D) a platform in a shared-input market.
Paying money in order to guarantee a certain level of compensation should an adverse event occur is
A. risk aversion. B. risk smoothing. C. risk pooling. D. risk rating.
Which of the following is the best measure of size of government as a share of the economy?
A) total government expenditures as a percentage of GDP B) the supply of money as a percentage of GDP C) public consumption plus private investment as a percentage of GDP D) private consumption as a percentage of Gross Domestic Product
Interdependence is the key characteristic of
A. monopolistic competition. B. monopoly. C. oligopoly. D. perfect competition.