Economists use the term externalities to refer to
A) consequences people ignore in their decision making.
B) any cost associated with an action.
C) foreign imports or exports.
D) the behavior in which people actually engage as distinct from their alleged reasons for acting as they do.
E) the outside directors of a corporation as distinct from corporate directors who are also managers.
A
You might also like to view...
Refer to Tax Problem. If the government imposes a $10 per unit consumption tax, then the market will produce
Consider a perfectly competitive market were demand is Q = 100 - P and Supply is Q = P - 10. a. 20 units b. 40 units c. 45 units d. 90 units
Education leads to external benefits because
A) the people who become better educated get better jobs. B) better educated people commit fewer crimes. C) better educated people are less lazy. D) little pollution is created when educating people. E) better educated people are more productive.
In the United States, the wealthiest 10 percent of households own about ________ of total wealth
A) 40 percent B) 66 percent C) 90 percent D) 55 percent
A closed economy refers to an economy in which:
A. a country exports, but does not allow imports. B. all goods are produced and sold domestically. C. intermediate goods are sold domestically. D. all goods are consumed domestically.