Which of the following best defines positive externalities?
a. Beneficial spillovers to a third party
b. Monetary benefits to stakeholders
c. Dollar values of societal benefits
d. Rates of return for innovators
a. Beneficial spillovers to a third party
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Which of the following statements is true?
A) Countries tend to trade extensively with their neighbors. B) The United States is an important trading partner for many countries. C) The largest amount of international trade occurs between industrialized countries. D) All of the above are true.
Is it possible to have a production function that exhibits both a diminishing marginal product of labor and constant returns to scale? Explain
What will be an ideal response?
If the absolute price elasticity of demand is 2.0, a 5 percent decrease in price will increase quantity demanded by
A) 10 percent. B) 20 percent. C) 25 percent. D) 5 percent.
Public choice theory applies ____ principles to politics
a. altruistic b. ceteris paribus c. economic d. the fallacy of composition