Refer to the Article Summary. Assuming the findings are correct and all else equal, higher increases in home values which result from close proximity to a Trader Joe's are an example of a ________ due to the location of the Trader Joe's
A) social cost
B) private cost
C) positive externality
D) negative externality
C
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Entrepreneurship results in an equal distribution of wealth and income
Indicate whether the statement is true or false
A member of the Board of Governors of the Federal Reserve is appointed by
a. Congress for 12 years. b. the President, with the advice and consent of the Senate, for a 14-year term. c. the President, for life. d. members of the House of Representatives for a 10-year term.
Vertically integrated firms can use transfer pricing
A) to avoid government price controls. B) as a way to compensate managers for transferring among departments in a vertically integrated firm. C) to avoid paying market prices for inputs. D) to shift profit.
The false assumption that what is true for a part will also be true for the whole is called the:
A. paradox of thrift. B. fallacy of composition. C. post hoc fallacy. D. ceteris paribus assumption.