Suppose a large tree on Adam's property blocks Eve's view of the ocean. Adam accepts Eve's offer of $15,000 to cut down the tree. This is an example of
A) internalizing externalities via voluntary agreements.
B) a result of logrolling.
C) a consequence of a positive externality.
D) a consequence of private costs exceeding social costs.
A
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The American Revolution and Constitution resulted in
(a) a dramatic change in laws and the ownership of property. (b) greatly expanded rights for wage workers and indentured servants. (c) the elimination of a land-owning aristocracy. (d) very little major change with respect to laws and ownership of property, though there was a strengthening of property rights.
Applications to MBA programs rose during the economic downturn in 2008. This is best explained by:
A) The opportunity cost of attending an MBA dropped for most applicants due to poor job prospects. B) More teachers were available to teach MBA classes due to the lower opportunity cost of teaching. C) The explicit costs of attending an MBA program fell in 2008. D) The implicit costs of attending an MBA program rose in 2008.
Often, improvements in technology can:
A. lead to more improvements in technology. B. lead to sustainable rates of growth in income for a country. C. continuously increase the productivity of workers. D. All of these are true.
Hector puts $150 into an account when the interest rate is 4 percent. Later he checks his balance and finds he has about $168.73 . How long did Hector wait to check his balance?
a. 3 years b. 3.5 years c. 4 years d. 4.5 years