Which of the following is NOT an example of a negative externality?
a. air pollution from a manufacturing plant.
b. disrupted sleep from a neighbor's loud music.
c. an illness caused by secondhand cigarette smoke.
d. a decrease in your property value from neglecting your lawn and garden.
d
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The two neighbors of the United States do a lot more trade with the United States than European economies of equal size
A) This contradicts predictions from gravity models. B) This is consistent with predictions from gravity models. C) This is irrelevant to any inferences that may be drawn from gravity models. D) This is because these neighboring countries have exceptionally large GDPs. E) This relates to Belgium's trade record with the U.S.
Suppose Gizmo Inc is willing to sell one gizmo for $10, a second gizmo for $12, a third for $14, and a fourth for $20, and the market price is $20 . What is Gizmo Inc's producer surplus?
a. $56 b. $24 c. $20 d. $10