A cost or benefit of a good imposed on people other than the consumers or producer of a good is called a(n):
A. public good.
B. merit good.
C. private good.
D. externality.
Answer: D
You might also like to view...
If product Y is an inferior good, a decrease in consumer incomes will
A. shift the demand curve for product Y to the left. B. make buyers want to buy less of product Y. C. shift the demand curve for product Y to the right. D. not affect the sales of product Y.
In the Keynesian cross model, when the level of aggregate demand in an economy is above the 45-degree line, ____
a. the level of aggregate expenditures in the economy will be lower than the level of output b. inventories will fall below the planned level c. businesses will decrease their level of production d. there will be an unexpected decrease in the sales of businesses
A rightward shift in aggregate demand will cause an increase in output and no change in the price level if aggregate supply is
A. Upward-sloping to the right. B. Vertical. C. Horizontal. D. Downward-sloping to the right.
In 2009, we had a current account ________ and a capital account _______.
A. surplus; surplus B. deficit; deficit C. deficit; surplus D. surplus; deficit