Externalities are the:
A.) Domestic economic impact of foreign events.
B.) Difference between social and private costs or benefits.
C.) Outside costs that producers absorb.
D.) Effects of government actions on the private sector.
B.) Difference between social and private costs or benefits.
You might also like to view...
A ban on imports, a tariff, or a quota raise the price to domestic consumers creates a deadweight loss. This loss is composed of
A) production associated loss and inefficiency loss. B) productive consumption loss and protection loss. C) consumption distortion loss and production distortion loss. D) consumer misperception loss and taxation loss.
A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of an indirect tax?
a. value-added tax b. income tax c. inheritance tax d. head tax
Which of the following is an example of cryptocurrency?
A) U.S. dollar B) Japanese yen C) Euro D) Bitcoin