Which of the following is NOT an example of an externality?
A. The development of a vaccine for preventing SARS.
B. Gas prices that rise in the summer due to increased vacation travel.
C. Shipbreaking that industrial nations have exported to less developed countries.
D. A factory that dumps dangerous chemicals into Lake Erie.
B. Gas prices that rise in the summer due to increased vacation travel.
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Should there be an official definition of a depression? If so, how should it be defined?
What will be an ideal response?
If all resources were perfectly adaptable for alternative uses, the production possibilities curve would
A. be a straight line. B. be bowed out. C. be a loop. D. not exist.
Income is a poor measure of relative position when attempting to determine horizontal equity.
A. True B. False C. Uncertain
The exchange rate is the price of one currency in terms of another
a. True b. False Indicate whether the statement is true or false