Which of the following is an example of a negative externality?
A. Government funding of public education.
B. An increase in government bureaucracy and red tape.
C. An increase in the incidence of cancer due to pollution.
D. A factory introduces a production process that reduces pollution.
Answer: C. An increase in the incidence of cancer due to pollution.
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Which of the following is true in regards to Okun's law?
A) employment does not increase commensurately with output rises because firms tend to hoard labor B) when demand increases, firms tend to work their employees harder and longer C) it is Okun's prediction of the negative relationship between the output and unemployment gaps that allows the modern Phillips curve to be translated into the AS curve D) all of the above E) none of the above
_____ are most likely to be upwardly mobile within the income distribution of a country
a. Single-earner families b. College graduates c. People who experience unemployment d. Non-college graduates e. Retired individuals