If a good gives rise to substantial external benefits to society that are associated with its production and/or consumption, then the good likely has too many resources devoted to its production

A "great merger movement," whereby firms combined with former rivals to become large firms, began in the 1890s. Who was the first President to look to bigger government as a way to cope with the economic power of these concentrated industries?

(a) Woodrow Wilson (b) Herbert Hoover (c) Theodore Roosevelt (d) Franklin Roosevelt

Requiring cars in Los Angeles to reduce pollution by the same amount as cars in Topeka is inefficient

a. True b. False Indicate whether the statement is true or false