Unintended costs that are imposed upon third parties as a result of an economic activity are called
a. marginal costs
b. direct costs
c. negative externalities
d. positive externalities
e. positive costs
C
Economics
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"Men are disposed, as a rule, and on the average, to increase their consumption as their income increases, but not by as much as the increase in their incomes." Which of the following is consistent with this statement by J.M. Keynes?
a. The slope of the consumption function is positive and less than one. b. The slope of the consumption function is greater than that of the 45-degree line. c. The slope of the consumption function is negative. d. The slope of the consumption function is equal to one.
Economics
Based on this graph, in most years there is a ______.
a. budget surplus
b. budget deficit
c. balanced budget
d. recessionary budget
Economics