An external benefit is the benefit experienced by people who:
A. do not decide how much of the good to produce or consume.
B. did not know why they are experiencing the benefit.
C. decide how much of the good to produce or consume.
D. consume the good.
Answer: A
You might also like to view...
In the above figure, Brendan originally consumes at point A. If his income rises and both compact discs and haircuts are normal goods then he will begin consuming at a point such as
A) F. B) B. C) C. D) D.
Think of examples of goods whose relative price has risen or fallen by a large amount
What will be an ideal response?
A factory increases its output by assigning workers to specific tasks, thus reducing the average cost. This is a situation of economies of scale
a. True b. False Indicate whether the statement is true or false
Milton Friedman argued that the Fed's control over the money supply could be used to peg
a. the level or growth rate of a nominal variable, but not the level or growth rate of a real variable. b. the level of a nominal or real variable, but not the growth rate of a real or nominal variable. c. the level or growth rate of a real variable, but not the level or growth rate of a nominal variable. d. both levels and growth rates of both real and nominal variables.