When a group of people stand to gain from an action that is not rational for any of the members to undertake individually, it is referred to as a:

Jack wants to buy a new house. But the surge in housing demand over the last few months has led to a sharp increase in housing prices making it impossible for him to afford one on his current income. This is an example of a ________

A) positive externality B) negative externality C) pecuniary externality D) conspicuous externality

In the steady state in the Solow growth model, the economy is in equilibrium with the capital-labor ratio and real GDP per worker ________, and with capital, labor, and real GDP ________

A) constant; constant B) growing; constant C) constant; growing D) growing; growing