Higher prices and price increases combined with lower real output and income, resulting from a major increase in input prices in the economy is called:

The average value added per U.S. farm worker is about __________ times that of farm workers in low- and middle-income countries

a. one half b. one c. ten d. seventy-five e. five hundred

The economic gain that a positive externality provides to others is called:

A. an internal benefit. B. an external benefit. C. an external cost. D. an internal cost.