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A side effect of an action that adversely affects the

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21. A side effect of an action that adversely affects the well-being of others is called aa.complement.b.supplement.c.negative externality.d.marginal cost.ANSWER:c
POINTS:1DIFFICULTY:EasyNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: Comprehension22. A negative externality isd
POINTS:1DIFFICULTY:EasyNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: Comprehension23. Negative externalities arising from the production of a good
b.cause a decrease in the demand for the good.c.impose costs on third parties.d.bring private costs into equality with social costs.ANSWER:cPOINTS:1DIFFICULTY:EasyNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: Comprehension24. Which of the following situations probably wouldnotyield a negative externality?c
POINTS:1DIFFICULTY:ModerateNATIONAL STANDARDS:United States - BUSPROG: AnalyticLOCAL STANDARDS:United States - OH - Default City - DISC: Markets, market failure,a - DISC: Markets, market failure, and externalitiesKEYWORDS:Bloom's: Application

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Term
Fall
Professor
FOUDY
Tags
Economics, Externalities, Market failure, Externality

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