A benefit of an activity received by people not participating in the activity is called a(n):
A. external cost.
B. negative externality.
C. positive externality.
D. winner's curse.
Answer: C
You might also like to view...
Describe the effects, in both the short run and the long run, of an increase in the money supply. Explain what happens to real output and the price level
What will be an ideal response?
When a price ceiling which had been set below equilibrium price is removed, what happens next?
A. quantity supplied rises B. quantity demanded rises C. supply rises D. demand rises
Exhibit 4-6 Demand and supply curves
If market supply decreases and, simultaneously, market demand increases, the new equilibrium will show:
A. market price will decrease, and market quantity exchanged will increase. B. market price will increase, and market quantity exchanged will decrease. C. market price will increase, and the quantity exchanged could increase, decrease, or remain the same. D. market price could increase, decrease, or remain the same, and quantity exchanged will increase.
Worker mobility is the:
A. demand for labor in different industries and firms. B. way to end globalization. C. process of increasing the size of the working-age population. D. movement of workers between job, firms, and industries.