John raises bees to pollinate his apple trees. One of the bees just stung him. This is a(n)
A) private cost.
B) social cost.
C) internality.
D) common property.
A
Economics
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Proponents of a balanced budget amendment to the Constitution argue that it will finally exert discipline on the federal government and so prevent large peacetime deficits. What do the critics argue?
What will be an ideal response?
Economics
One disadvantage of government subsidies over price controls is that subsidies
a. prevent the attainment of equilibrium in the markets in which they are imposed. b. make higher taxes necessary. c. are always unfair to those with low incomes. d. cause unemployment.
Economics