Options traded on exchanges are known as:

All of the following are private costs of operating an automobile EXCEPT

A) gasoline for the car. B) depreciation of the vehicle. C) car insurance. D) harm to the environment from emissions.

If tastes are homothetic, there exists a utility function that represents those tastes and that gives rise to an expenditure function which is homogeneous of degree 1 in utility.

Answer the following statement true (T) or false (F)