A situation where a consumer's willingness to use an item depends on how many others use it is

A key implication of the policy irrelevance proposition is that

A) only unanticipated policy actions can influence real Gross Domestic Product (GDP). B) only fully anticipated policy actions can influence real Gross Domestic Product (GDP). C) the rational expectations hypothesis is incorrect. D) none of the above.

Negative externalities impose most of their costs:

a. directly on consumers of polluting processes. b. whenever individual health is harmed in the production process. c. only in large cities. d. on individuals other than consumers of the polluting product.