"Second-hand" smoke is an often cited disadvantage of allowing smoking in restaurants. In economics, "second-hand" smoke is referred to as a(n)
A) capital good.
B) externality.
C) economic cost.
D) negative investment.
Answer: B
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Using sharp increases or decreases in taxes rather than deficits is a better way to prevent distortions in an economy
Indicate whether the statement is true or false
What type of relationship does the real interest rate have with respect to Investment spending?
A. No relationship B. constant relationship C. positive relationship D. negative relationship
If a firm or a nation desires to maximize its output, each productive assignment should be carried out by those persons who
What will be an ideal response?
Under the average-cost pricing policy, a regulated monopolist is guaranteed a normal economic profit even if there is a change in its cost of production.
Answer the following statement true (T) or false (F)