Externalities can be positive because
A. marginal damages do not last over time.
B. utility can be impacted positively as well as negatively.
C. there is no concept for marginal benefit.
D. positive externalities are subsidies.
B. utility can be impacted positively as well as negatively.
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Which of the following statements correctly highlights a difference between real GDP and nominal GDP?
A) Real GDP includes the value of goods and services produced by foreign firms, while nominal GDP does not. B) Real GDP strips out the effect of changing prices on the value of goods and services produced, while nominal GDP does not. C) Real GDP includes the value of goods and services produced by domestic firms in foreign countries, while nominal GDP does not. D) Real GDP does not take into account the value of goods produced and also services provided, while nominal GDP takes these into account.
The "quantity demanded" of any good or service is ________ during a specified time period and at a specified price
A) the amount people are willing to buy B) the amount people are able to buy C) the amount people are willing and able to offer D) the amount people are willing and able to buy E) the amount people are willing to buy because it is the amount sellers are willing to sell