Social demand is equal to
A. Public demand plus or minus externalities.
B. Private goods plus or minus externalities.
C. Tax revenue plus or minus externalities.
D. Market demand plus or minus externalities.
Answer: D
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The level of capital per person would increase if
A) the average saving rate were higher. B) the output-to-capital ratio increased. C) the depreciation rate increased. D) Both A and B.
Prices that maximize the public interest will always allow reasonable profits for firms.
Answer the following statement true (T) or false (F)
Which of the following best describes aggregate expenditure?
What will be an ideal response?
Dumping is
A. exporting goods that are sources of pollution. B. selling a good abroad in huge quantities at a very low price. C. exporting goods that are of inferior quality relative to the goods sold in the domestic market. D. selling a good abroad at a price below cost or below the price charged in the domestic market.