When an externality is present in a market, and correcting it increases the efficiency of the market, we can conclude it is a:
A. negative externality.
B. positive externality.
C. network externality.
D. either a negative or a positive externality.
D. either a negative or a positive externality.
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Countries with more independent central banks tend to have
A) higher inflation rates. B) lower inflation rates. C) lower rates of unemployment. D) higher rates of GDP growth.
Suppose a market is currently served by an incumbent firm. If a potential entrant can enter prior to the incumbent firm announcing its output (or price), the incumbent cannot deter entry through its actions.
Answer the following statement true (T) or false (F)
Which of the following functions of government gives property owners the incentive to use their property efficiently?
A. making sure that courts are lenient on people who steal private property B. the enforcement of antitrust legislation C. the protection of property rights D. the financing of public goods
Refer to the information provided in Figure 6.8 below to answer the question(s) that follow.
Figure 6.8Refer to Figure 6.8. The ________ movie rental has a marginal utility of fifteen.
A. first B. second C. third D. fourth