Noise from a hard rock concert is an example of a situation in which
A) social costs are greater than private costs.
B) social costs are less than private costs.
C) social costs are equal to private costs.
D) social costs that are not external costs.
Answer: A
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Can it be efficient for one trader to consume all units of the goods while the other trader consumes nothing? In other words, does this point lie on the contract curve?
What will be an ideal response?
Which of the following is not correct concerning predatory dumping?
a. It may be a way to discourage the development of domestic production of a good. b. It may drive out established firms. c. There are a great number of documented cases of predatory dumping. d. In actuality, the blocking of entry on a worldwide scale would be extremely difficult to accomplish. e. In pursuing their monopoly position after dumping, dumpers may actually encourage the entry of other firms.
Which of the following statements is true?
a. All virtual currencies are electronic, and all electronic currencies are virtual. b. Virtual money is, by definition, legal tender. c. It is possible for virtual money to be (at the same time) a unit of account, store of value, and medium of exchange. d. Virtual currencies are highly regulated.