Asset price inflation occurs when the prices of assets rise.

The first step toward reducing negative externalities or maintaining them within acceptable bounds, according to the argument of the textbook, is

A) constructing an exhaustive list of all negative externalities. B) creating a central planning authority for negative externalities. C) cultivating such civic virtues as courtesy and tolerance. D) halting population growth. E) prohibiting activities whose costs are greater than their benefits.

The Fed was founded in 1913 to serve as lender of last resort to bankers during bank runs and panics

Indicate whether the statement is true or false