A third party is a person, or persons, who:
a. consume goods produced from at least two intermediate inputs.
b. avoids the transactions of the two principal parties.
c. takes risks to avoid externalities.
d. internalizes the costs of market failure.
e. is imposed upon by the activity of others.
e
You might also like to view...
Governments can address the adverse selection problem in the health insurance market by requiring all its citizens to have health insurance
Indicate whether the statement is true or false
Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size. In the meantime, population grew by 40 percent and prices rose by 100 percent. What happened to real GDP per person?
a. It more than doubled. b. It increased, but it less than doubled. c. It was unchanged. d. It decreased.