The economic gain that a positive externality provides to others is called:
A. an internal benefit.
B. an external benefit.
C. an external cost.
D. an internal cost.
B. an external benefit.
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How do exports affect sellers' producer surplus?
What will be an ideal response?
New Deal environmental policies included all of the following except:
a. withdrawal of much of the public domain from private entry. b. the use of the "soil bank" to encourage agricultural conservation. c. projects such as the TVA that simultaneously protected many resources in a region. d. the establishment of Yellowstone as a national park.
For government, most market activity can be explained by the goal of:
A. Welfare maximization. B. Social responsibility. C. Utility maximization. D. Charitable responsibility.
Discouraged workers are discouraged because
A. they are working part-time, but they want full-time work. B. they don't have jobs and are pessimistic about their chances of finding a suitable job. C. their employers are too demanding. D. their employers continue to underpay them.