A positive externality exists when ______.
a. a situation occurs where an informed party benefits in an exchange by taking advantage of knowing more than the other party
b. the available information is initially distributed in favor of one party relative to another in an exchange
c. costs spill over to an outside party who is not involved in producing or consuming the good
d. benefits spill over to an outside party who is not involved in producing or consuming the good
d. benefits spill over to an outside party who is not involved in producing or consuming the good
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If in Switzerland in January, 2009 the CPI was 187.4 and in January, 2010 it was 191.1, then the inflation rate in 2010 was
A) 1.9 percent. B) 3.7 percent. C) -1.9 percent. D) unknown without the base period index number. E) unknown without the real prices.
Which of the following would not cause the supply curve for gasoline to shift?
A) A change in the wages paid to gas station attendants. B) A change in the number of gas stations. C) A change in the incomes of drivers. D) A change in the cost of refining oil.