In an economy with money, as opposed to barter, people are more likely to specialize in the production of goods and services

What important function does adjudication perform in the process of reducing negative externalities?

A) It allocates the revenue from negative externalities to the people who have been damaged. B) It arbitrates between beneficiaries of negative externalities and the people who must bear their costs. C) It decides whether punitive or merely compensatory damages will be awarded. D) It discovers who has which rights. E) It imposes criminal penalties on the people responsible for generating negative externalities.

Incomes of U.S. households in the 1970s and 1980s

a. grew rapidly, due to the widespread success of labor unions in pushing up wages during those decades. b. grew rapidly, due to several increases in the minimum wage during those decades. c. grew rapidly, due to government policies that discouraged the importation of foreign products during those decades. d. grew slowly, due to slow growth of the output of goods and services per hour of U.S. workers' time during those decades.