Bruce engages in an activity that diminishes the well-being of Shawna. Bruce pays no compensation to Shawna for her loss in well-being. What specific term do economists use to describe this situation?
The term is negative externality.
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Which of the following statements is correct?
A. Managerial decisions are affected by both microeconomic and macroeconomic forces. B. Managerial decisions are affected primarily by macroeconomic forces. C. By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces. D. Managerial decisions are affected primarily by microeconomic forces.
Refer to the table above. If the opportunity cost of time increases to $60 per hour, renting which apartment will turn out to be the most expensive every month?
A) 1 B) 2 C) 3 D) 4
Developing countries do:
A. compete with one another for foreign investment, and this competition reduces the benefits from foreign investment. B. not compete with one another for foreign investment, because they have sufficient domestic saving to finance their investment needs. C. not compete with one another for foreign investment, because they lack the infrastructure to attract it in the first place. D. compete with one another for foreign investment, but this competition is beneficial to developing countries because it insures a more efficient allocation of resources.
Refer to the information provided in Figure 34.3 below to answer the question(s) that follow.
Figure 34.3Refer to Figure 34.3. If British people want to buy more U.S. goods and assets, the supply of pounds will
A. shift from S0 to S2. B. shift from S1 to S2. C. shift from S1 to S0. D. not change.