Positive externalities are created when
A) other consumers reduce their demand for coffee and price thereby declines.
B) farmers spray pesticide in their fields and it washes into the local river after the first rainstorm.
C) your neighbor plants beautiful trees and flowers in her yard.
D) you purchase the "Mona Lisa" and lock it in a vault.
C
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If there is a rise in the price level, there is ________ in the quantity of real GDP supplied and a movement ________ along the AS curve
A) a decrease; downward B) an increase; downward C) a decrease; upward D) an increase; upward E) no change; upward
If Polaroid wanted damages against Kodak for infringing on its instant development film process, and the courts found a high positive cross elasticity between purchases of Polaroid instant film and 35 mm regular film, would that have strengthened or weakened Polaroid’s claim against Kodak?
What will be an ideal response?
The factor accounting for the steepest rise in the currency ratio since 1892 is
A) taxes. B) bank panics. C) illegal activity. D) an increase in wealth.
In a coin toss bet, where both heads and tails are equally likely, you win a $3 on heads but lose $1 on tails. The expected value of the bet is
a. $0.50 b. -$0.50 c. $1.00 d. $0.00