In a situation where an externality occurs, the "third party" refers to those who:
A. Buy the product from others
B. Produce the product for others
C. Trade the product with others outside the nation or community
D. Are not directly involved in the transaction or activity
D. Are not directly involved in the transaction or activity
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The two functions that are critical to the key role that commercial banks play in stabilizing the economy are accepting deposits and making loans
Indicate whether the statement is true or false
The term "factor market" applies to the market for
a. labor. b. capital. c. land. d. All of the above are correct.
The open-economy macroeconomic model includes
a. only the market for loanable funds. b. only the market for foreign-currency exchange. c. both the market for loanable funds and the market for foreign-currency exchange. d. neither the market for loanable funds nor the market for foreign-currency exchange.
If Hong Kong continues to devote more resources to accumulating capital than the United States, Hong Kong will continue to grow more rapidly than the United States
Indicate whether the statement is true or false