"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. negative investment.
B. economic cost.
C. externality.
D. capital good.
Answer: C
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Offering product-specific services shifts the market demand for the product to the ________ and the market supply to the ________.
A) left; right B) left; left C) right; right D) right; left
The precise definition of GDP is the total value of all
a. goods and services produced by a nation, minus household labor b. goods and services produced by a nation, minus depreciation c. goods and services produced for the marketplace during a given period d. final goods and services produced for the marketplace during a given period, within a nation's borders e. final goods and services produced within a nation's borders and by this nation's citizens abroad during a given period
Refer to the information provided in Figure 2.3 below to answer the question(s) that follow.
Figure 2.3Refer to Figure 2.3. Assume that in this society the opportunity cost of sailboats in terms of surfboards is increasing. A graph of this society's production possibility frontier will be represented by Panel
A. A. B. B. C. C. D. D.
Multinationals
What will be an ideal response?