An economy is said to be saving lives efficiently
a. if the number of lives saved increases each year
b. whenever the cost of saving lives is decreasing
c. if it is operating on its production possibilities frontier
d. if more resources are devoted to saving lives than to any other activity
e. if fewer resources are devoted to saving lives than to any other activity
C
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A negative externality exists if
A) there are quantity controls in a market. B) the marginal social cost of producing a good or service exceeds the private cost. C) there are price controls in a market. D) the marginal private cost of producing a good or service exceeds the social cost.
When a government changes the official exchange rate target in a fixed exchange regime, there is a danger of
A) realignment pain. B) systemic risk. C) crowding out. D) a beggar-thy-neighbor effect.