Examlex
Why is it important to judge an economy's external debt relative to its assets? (Remember: an internal debt creates an equal amount of financial assets. )Give an example to support your explanation.
Marginal Cost
The cost incurred by producing one more unit of a good or service.
Socially Optimal Price
A price level for goods or services that considers the wellbeing of society as a whole, often factoring in externalities.
Deadweight Loss
The diminishing of economic efficiency when equilibrium in the free market for a product or service is not attained.
Benevolent
Showing kindness or goodwill, often characterized by acts of generosity or concern for others.
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