External costs are
A. borne by individuals other than those who incurred them.
B. borne by the government but incurred by the public.
C. another term for implicit costs.
D. borne by the public but incurred by the government.
Answer: A
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The banking system has just experienced an increase in deposits of $50,000. The currency drain ratio is 20 percent and the desired reserve ratio is 10 percent. What does the money multiplier equal?
A) 4.00 B) 3.33 C) 0.25 D) 10.00
In markets, prices move toward equilibrium because of
a. the actions of buyers and sellers b. government regulations placed on market participants. c. increased competition among sellers. d. buyers' ability to affect market outcomes.
When prices on science fiction novels decreased by 5%, the quantity demanded increased by 20%. The price elasticity of demand is
a. 4. b. 20. c. 0.25. d. 5.
Which of the following is the best place to set funds aside for "surprise" expenditures?
What will be an ideal response?