A cost borne not by the producer but by other people is called ________ cost
A) an unregulated
B) an external
C) a consumer
D) a non-production
B
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In the above figure, the curve's slope is
A) positive and is becoming steeper. B) positive and is becoming less steep. C) negative and is becoming steeper. D) negative and is becoming less steep.
A good or service that is rival but nonexcludable is called a ________, and a good or service that is nonrival but excludable is called a ________.
A. public good; collective good B. commons good; public good C. commons good; collective good D. public good; private good
A borrower has information that is not available to a prospective lender; this is an example of:
A. liquidity risk. B. a transfer of risk. C. information asymmetry. D. a wise borrower and an unwise lender.
When the Fed acts as a "lender of last resort", like it did in the financial crisis of 2007-2008, it is performing its role of:
A. Controlling the money supply B. Setting the reserve requirements C. Being the bankers' bank D. Providing for check clearing and collection