Externalities Are Generally Reflected in Market Prices

question 41

True/False

Externalities are generally reflected in market prices.

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Definitions:

Fourteenth Amendment

An amendment to the U.S. Constitution, ratified in 1868, that granted citizenship to all persons born or naturalized in the United States, including former slaves, and guaranteed all citizens equal protection of the laws.

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Oliver Wendell Holmes

A prominent American jurist and Supreme Court Justice known for his contributions to legal theory and the development of American common law.

National Association of Colored Women

An organization formed in 1896 in the United States, focused on promoting civil rights and improving the conditions for African-American women and their families through education, job training, and community service.