An unintended byproduct of a market exchange that is allocated outside the market system is _____
a. a restrictive covenant
b. an externality
c. a pollution right
d. an external damage
b
You might also like to view...
Consumers' total benefit from consuming a good is equal to the
A) total amount spent on the good. B) consumer surplus on the quantity purchased. C) consumer surplus plus the total amount spent on the good. D) consumer surplus minus the total amount spent on the good. E) total amount spent on the good divided by the number of units purchased.
During the Black Plague, capital became worthless. What can explain this?
A) Capital's marginal product fell because there was less labor. B) Capitalists died off at a greater rate than the workers. C) Capital's marginal product increased but the marginal product of labor decreased. D) Workers forgot how to use the capital.