If the market price of a good does NOT include all of the costs and benefits that arise from the production or consumption of the good, then
A) the market is perfectly competitive.
B) an externality is present.
C) society is consuming and producing the optimal amount of the good.
D) resources are properly allocated.
Answer: B
Economics
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If there was an increase in technology other things equal, real GDP growth would ____ and real GDP growth per capita would ____. a. increase; increase
b. increase; be indeterminate. c. decrease; decrease. d. decrease; be indeterminate
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