Which of the following is an example of a positive externality?
a. air pollution
b. littering in a public park
c. buying a new automobile
d. planting a nice garden in front of your neighbor's house
e. pollution of a stream
D
You might also like to view...
Consider a production possibility frontier with jeans on the vertical axis and shoes on the horizontal axis. As a country moves along the frontier closer to the vertical axis,
A) the opportunity cost of producing jeans decreases. B) inefficient production occurs. C) the opportunity cost of producing jeans increases. D) there are fewer tradeoffs. E) the opportunity cost of producing shoes increases.
Individual firms in perfectly competitive industries are price takers because
A) the government sets all prices. B) buyers set prices. C) firms decide together on the best price to charge. D) each individual firm is too small to affect the market price.
According to purchasing power parity, the relationship among the domestic price (P), the foreign price (P ), and the nominal exchange rate (e), can be written as
A) P = e - P . B) P = P - e. C) P = eP . D) P = e/P .
By 1860, two-thirds of America's woolen output was produced in:
a. the area surrounding Philadelphia. b. New England. c. the Mid-Atlantic states. d. New York city.