Figure 10-6
In Figure 10-6, which graph best illustrates the effect of the beginning of the Iraq war in 2003?
a.
(1)
b.
(2)
c.
(3)
d.
(4)
b
Economics
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What is meant by the term "internalizing an externality"? How does a Pigovian tax or subsidy internalize an externality?
What will be an ideal response?
Economics
Which economist is credited with having been the first to discuss the "lemons problem"?
A) George Akerlof B) Milton Friedman C) Robert Shiller D) James Tobin
Economics