Which of the following is true of markets characterized by positive externalities?
a. Social value exceeds private value, and market quantity exceeds the socially optimal quantity.
b. Social value is less than private value, and market quantity exceeds the socially optimal quantity.
c. Social value exceeds private value, and market quantity is less than the socially optimal quantity.
d. Social value seldom exceeds private value; therefore, social quantity is less than private quantity.
c
Economics
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Inflation is generally the result of total spending growing faster than total production
Indicate whether the statement is true or false
Economics
Positive demand shocks have a tendency to ________ real GDP relative to potential GDP and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Economics