When Private and Social Costs Are Equal

question 104

Multiple Choice

When private and social costs are equal,

• A)Market failure occurs.
• B)There are no external costs.
• C)Government failure occurs.

Recognize the role and function of clearinghouses in the banking industry and the regulatory time frames for the clearance of checks.

Understand the concept of spurious correlation in research.

Distinguish between qualitative and quantitative research approaches.

Comprehend the definitions and roles of independent and dependent variables in research.

---

Definitions:

Transsexuals

Individuals who identify with a gender different from the one assigned at birth and who may seek to undergo medical procedures to align their physical appearance with their gender identity.

Sexual Orientation

An inherent or immutable enduring emotional, romantic or sexual attraction to other people, which can be towards the same sex, opposite sex, or both.

Hormone Therapy

A medical treatment involving the administration of hormones to correct or modify certain medical conditions or to alleviate symptoms associated with specific diseases.

Opposite Sex

A term used to refer to the sex that is different from one's own, traditionally classified as male if one is female and female if one is male.