In economic analysis, air pollution, water pollution, and scenery destruction are considered to be
A) externalities.
B) internalities.
C) private costs.
D) marginal benefits.
A
You might also like to view...
Which of the following is true of equilibrium?
A) Equilibrium refers to a situation where an economic agent can be made better off without making anyone else worse off. B) Equilibrium refers to a situation where the government allocates resources among economic agents. C) Equilibrium refers to a situation where all economic agents are making sub-optimal choices and have an incentive to change behavior. D) Equilibrium refers to a situation where all economic agents simultaneously optimize after considering each other's actions.
What is not true for a system of financial penalties for polluters?
A. Firms may be fined for pollution. B. Firms might have to pay a tax for each unit of pollution created. C. Firms would be encouraged to pollute less. D. Firms are always guaranteed the permit to pollute.
In the short run, AFC is always greater than
a. ATC b. AVC c. MC d. Zero
The Fed is dependent upon government policy, as witnessed by its actions in the early and mid-1980s
Indicate whether the statement is true or false