A Consequence of a Negative Externality Is That Social Costs

question 60

Multiple Choice

A consequence of a negative externality is that social costs __________ private costs,and the efficient level of output __________.

• A) equal; does not require any type of government intervention
• B) are less than; requires the government to create a subsidy
• C) are greater than; requires the government to impose a tax
• D) are greater than; requires the government to create a subsidy
• E) are less than; requires the government to impose a tax

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Definitions:

Binet and Simon

Alfred Binet and Theodore Simon were French psychologists who, in the early 20th century, developed the first intelligence test to identify children needing special education.

Practical Intelligence

A type of intelligence that involves the ability to solve everyday problems by utilizing knowledge gained from experience.

Sternberg

Refers to Robert Sternberg, a psychologist known for his work on intelligence, creativity, wisdom, and love theories.

Study Skills

Techniques and strategies that enhance an individual’s ability to learn effectively and efficiently.