Refer to Table 16-3. If Julie charges $10 per hour, what is the value of the consumer surplus received by Dawn?

Keynes was motivated to create a macroeconomic theory different from classical theory because

A) he believed in government intervention in the economy. B) he believed in the idea of the invisible hand. C) monetary policy was more important than the classicals acknowledged. D) classical theory was inconsistent with the data in the Great Depression.

____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant

a. Pecuniary benefits and costs b. Externalities c. Intangibles d. Monopoly costs and benefits e. none of the above