The Term Externality Refers to

question 45

Multiple Choice

The term externality refers to

• A)regulations imposed on a firm by government.
• B)a nation that is a trading partner of another nation.
• C)unpaid costs of production that are incurred by society.
• D)tariffs imposed on American goods exported to other countries.
• E)None of these answers is correct.

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Definitions:

Newspapers

Publications that contain written information on current events, features, and advertisements, often published daily or weekly.

Internet

A global network of interconnected computers and servers that facilitates the exchange of data and communication.

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.

Unemployment

The situation where individuals who are capable of working and actively seeking employment are unable to find a job.