A Familiar Example of a Negative Externality Is Traffic Congestion

question 104

Multiple Choice

A familiar example of a negative externality is traffic congestion.In principle,it should be possible to internalize this externality by permitting drivers to negotiate rights to drive during particular times.The most likely reason that these negotiations do NOT happen is that:

• A)most individuals are unfamiliar with the Coase theorem.
• B)the transaction costs associated with identifying and establishing communication among the many interested parties would be prohibitive.
• C)agreements arising from such negotiations could not be enforced since the Constitution guarantees all individuals freedom of access to all public roads.
• D)lawyers would find a way to prohibit such negotiations unless they were actively involved,thus making transaction costs prohibitive.

Know the pathways and processing centers for visual information in the brain.

Understand theories of color vision, including trichromatic theory and opponent-process theory.

Recognize the role of different cells in the retina in visual processing.

Grasp the concept of visual field defects, including the blind spot.

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Definitions:

Incidence Rate

A measure of the frequency at which new cases of a disease or condition occur in a population over a specified period.

Asbestos Exposure

Refers to the condition of being in contact with asbestos, a group of naturally occurring fibrous minerals, which is a known risk factor for several diseases, including mesothelioma and lung cancer.

Additive Scale

A scale where the total effect of combining two or more variables is simply the sum of their individual effects.

Standardized Mortality Ratios

A ratio of the observed to the expected number of deaths in a study population, used to compare the mortality risk of the study population to that of a standard population.