When a forest is logged, it is possible for the logging to create "soil runoff," a situation in which the soil, no longer protected by trees, erodes and silts a river miles downstream from the logging area
Is soil runoff created by logging in Montana that ruins a river an example of a private cost to the lumbering company or an external cost?
The soil runoff is an external cost. The lumber company does not pay the cost of the ruined river, so the cost is not a private cost to the company. Instead, the cost is borne by fishermen or other users of the river who can no longer use the river, or by society, which pays to clean up the river so that the fishermen and other users can utilize it once again.
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Under the cartel, the price is 
Figure 42.2
A. P1. B. P2. C. P3. D. 0.
In 2006, real GDP in Belgium grew at a 3 percent rate and inflation was 1.8 percent while the population did not change. As a result, there was ________ demand for money curve in Belgium
A) a rightward shift of the B) a leftward shift of the C) a movement up along the D) no change in the
Why does minimum wage affect teenagers more negatively than other age groups?
a. They are too young to be hired for minimum-wage jobs. b. They are not experienced enough to get minimum-wage jobs. c. They are choosy about the jobs they take, so they turn down minimum-wage work. d. They prefer focusing on school than work that pays a minimum wage.
Positive economic analysis is said to be
A) true. B) always accurate. C) value-laden. D) objective.