Externalities are defined as
a. any transaction external to the firm
b. costs or benefits that fall on third parties
c. policies that firms undertake to sell products outside the country
d. managers' dealings with stockholders outside the firm
e. costs of maintaining plant and equipment to avoid the scrutiny of external auditors
B
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The figure above shows the supply curve for soda. The market price is $1.00 per soda. The marginal cost of the 20,000th soda is
A) $0.00. B) $0.50. C) $1.00. D) more than $1.00. E) None of the above answers is correct.
Suppose that you find out from an L.L. Bean catalogue that a sweater costs $30.00. In this case, money is serving as a
A) medium of exchange. B) unit of account. C) store of value. D) double coincidence of want.
The interest rate that banks use as a benchmark rate for interest rates on a wide range of loans to businesses and individuals is the:
a. Federal funds rate b. Real interest rate c. Discount rate d. Prime interest rate
Which of the following is the correct formula for calculating the unemployment? rate?
What will be an ideal response?