When a negative externality exists, the private market produces
A) products at a low opportunity cost.
B) less than the economically efficient output level.
C) products at a high opportunity cost.
D) more than the economically efficient output level.
D
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Net profit after taxes per dollar of assets is a basic measure of bank profitability called
A) return on assets. B) return on capital. C) return on equity. D) return on investment.
From 1860 to 1910,
(a) The total population grew faster than the workforce. (b) National income grew faster than did total population. (c) The workday increased. (d) Foreign investment in the U.S. dropped continuously.
All of following are commonly considered to be common property EXCEPT
A) spotted owls in the wild. B) fish in an ocean. C) chickens raised in a farm. D) wild salmon in a river.
Features of "Reagonomics" include all of the following except:
a. reduction in marginal tax rates. b. increased government expenditures for defense. c. deregulation of business. d. regular increases in the minimum wage.