A/an __________ Normally Specifies Such Matters as How Assets Will

question 37

Multiple Choice

A/an __________ normally specifies such matters as how assets will be distributed in the event of divorce or death; how debts will be paid,and what kind of insurance coverage to have.

• A)prenuptial agreement
• B)informal marriage contract
• C)last will and testament
• D)private marriage contract

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Definitions:

External Costs

Costs that are not borne by the producer or consumer but by third parties or society at large, such as pollution or resource depletion.

External Benefit

A positive effect on a party who did not choose to incur that benefit, often associated with public goods or services.

Public‐spirited

Exhibiting a selfless concern for the well-being of the community and the willingness to act for the public good.

Air Pollution

The presence of substances in the atmosphere that are harmful to the health of humans and other living beings or cause damage to the climate or materials.