What does it mean to say that a firm has been made liable?
a. The firm is legally responsible to compensate other parties for damage.
b. The firm has begun to treat any external costs as private costs.
c. The firm has received the property rights to a disputed resource.
d. The firm is required to pay a Pigou tax to the government.
a. The firm is legally responsible to compensate other parties for damage.
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Compare the growth rates in Hong Kong, Korea, Singapore, Taiwan, China, and the United States. In terms of real GDP per person, how far is China behind these others?
What will be an ideal response?
Child labor is a widespread problem that applies primarily to children
(a) between the ages of 5 and 14. (b) between the ages of 10 and 14. (c) between the ages of 12 and 14. (d) between the ages of 12 and 16.