Which of the following is a good example of a negative externality?
A. A landfill that creates undesirable odors on surrounding property
B. A forest that absorbs carbon dioxide and generates oxygen
C. A "big box" retail store that outcompetes existing retail stores
D. A rose garden in your front yard
Answer: A
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An example of Friedman's k-percent rule is
A) "do not change the growth rate of the quantity of money." B) "every time GDP decreases, decrease the growth rate of the quantity of money." C) "set the growth rate of the quantity money equal to the unemployment rate." D) "every time GDP decreases, increase the growth rate of the quantity of money." E) "use all information available to determine the growth rate of the quantity of money each time GDP changes."
Who gains from a law requiring people who want to enter the taxicab business to prove they are thoroughly competent, honest, and reliable before they can obtain a license?
A) Local people who use taxicabs frequently and regularly B) Local people who use taxicabs only occasionally C) Out-of-town visitors who use taxicabs D) Owners of taxicab licenses E) Potential owners and operators of taxicabs who are members of minority races
Father-only single parent families have a poverty rate that is about equal to the national average poverty rate
Indicate whether the statement is true or false
The per se rule refers to the interpretation of the courts that dominant firms should be broken up because of their:
a. market share of dominance. b. history of illegal business practices. c. price discrimination practices. d. All of these.