External costs are those costs:
A. that are both social costs and private costs.
B. that fall directly on an economic decision maker.
C. that fall indirectly on an economic decision maker.
D. that are imposed without compensation on someone other than the person who caused them.
Answer: D
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In the above figure, Brendan originally consumes at point A. If his income rises and both compact discs and haircuts are normal goods then he will begin consuming at a point such as
A) F. B) B. C) C. D) D.
Dynamic tax analysis is an economic evaluation of tax rate changes
A) by the National Tax Institute in Burlington, Massachusetts. B) by various state governments. C) by the tax institutes established by a consortium of business schools. D) based on the assumption that tax base declines if tax rates continuously increase.