Which of the following is an example of an externality?
a. cigarette smoke that permeates an entire restaurant
b. a flu shot that prevents a student from transmitting the virus
c. a beautiful flower garden outside the county courthouse
d. All of the above are examples of externalities.
d
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Full-employment equilibrium occurs when
A) real GDP exceeds potential GDP. B) real GDP equals potential GDP. C) potential GDP exceeds real GDP. D) None of the above answers are correct.
When two variables move in opposite directions, the curve relating them is
a. upward sloping, and we say the variables are positively related. b. upward sloping, and we say the variables are negatively related. c. downward sloping, and we say the variables are positively related. d. downward sloping, and we say the variables are negatively related.