International trade:
A. Raises the prices that consumers pay.
B. Reduces competition.
C. Makes a country weak.
D. Increases consumption possibilities.
D. Increases consumption possibilities.
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Which of the following statements is false?
A. A positive externality is internalized if the person that generated the externality incorporates into his or her own private cost-benefit calculations the external benefits that third parties receive. B. Internalizing externalities is not the same as adjusting for externalities. C. An externality has been completely internalized if the socially optimal output emerges. D. Assigning property rights is one way to internalize externalities.
Diversification involves:
A. investing all your money in one company. B. investing all your money in the same type of financial assets, with the same amount of risk. C. investing all your money in a variety of financial assets, with varying amounts of risk. D. None of these statements is true.
The Cost-Benefit Principle:
A. describes how people behave once they have enough education. B. provides little insight into how people actually chose between alternatives. C. provides an abstract model of how people should choose between alternatives. D. fully captures how people choose between alternatives.
What is the incentive problem in central planning?
Please provide the best answer for the statement.