In the context of collective decision-making, external costs are _____
a. the costs imposed on everyone in the group
b. the costs imposed on those outside the group
c. the costs imposed on those who voted for the decision
d. the costs imposed on those harmed by the decision
d
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Refer to the above figure. The equilibrium level of real Gross Domestic Product (GDP) is
A) $6 trillion. B) $7 trillion. C) $12 trillion. D) $20 trillion.
One major challenge of the Canadian National Health Insurance System is
a. there is more access to medical technology in Canada. b. The population density differences in the country. c. the monopsony power of the Canadian provincial health plans in negotiating fees with physicians' associations. d. the fact that there is no large inner-city population in Canada to drive up costs. e. all of the above.