An externality is an unintended ____ imposed on ____ as a result of the ____
a. c or d
b. cost; sellers; negligence of others
c. cost; third parties; economic activity of others
d. benefit; third parties; economic activity of others
e. benefit; sellers; beneficence of others
a
Economics
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Explain the law of supply. What does the law of supply imply about the shape of the supply curve?
What will be an ideal response?
Economics
The argument advanced by Milton Friedman for adopting a monetary growth rule is that
A) active monetary policy potentially destabilizes the economy. B) a constant rate of growth in the money supply would eliminate the booms and recessions that make up the business cycle. C) the growth rate of M1 has been unstable. D) the Fed can control the money supply, but not the level of interest rates.
Economics