Social costs are
A) costs that are borne by the government.
B) the full cost borne by society whenever a resource use occurs.
C) borne by individuals who incur them.
D) another term for external costs.
B
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How effective is discount policy as compared to open market operations in managing the money supply? Explain how The Federal Reserve uses discount policy today
What will be an ideal response?
The market system provides a way
a. to allow specialization and exchange to work in tandem. b. to improve the well-being of mankind. c. to harness self-interest. d. to allocate goods and services. e. All of the above are correct.
Equilibrium price must increase when demand
a. increases and supply does not change, when demand does not change and supply decreases, and when demand decreases and supply increases simultaneously. b. increases and supply does not change, when demand does not change and supply decreases, and when demand increases and supply decreases simultaneously. c. decreases and supply does not change, when demand does not change and supply increases, and when demand decreases and supply increases simultaneously. d. decreases and supply does not change, when demand does not change and supply increases, and when demand increases and supply decreases simultaneously.
Automatic stabilizers include
A. Deregulation. B. Open market operations. C. Discretionary tax cuts. D. Unemployment benefits.