Bongo plays drums in his parents' garage after school. What can we be sure of?
A) Bongo's drumming imposes negative externalities on others.
B) Bongo's drumming delivers positive externalities to others.
C) Bongo expects to benefit while drumming.
D) All of the above.
C
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A tax on productive activity tends to
a. increase formal market activity because it decreases prices b. decrease formal market activity because it increases work incentives c. decrease formal market activity because it lowers the return on such activity d. decrease activity in the underground economy because people are afraid of being connected with tax fraud e. increase activity in the underground economy because people are afraid of being connected with tax fraud
A lack of current saving can be offset by borrowing, but the availability of borrowing is limited by the prospects for future saving
a. True b. False Indicate whether the statement is true or false