If the Social Costs of Driving an Automobile Are Greater

question 212

Multiple Choice

If the social costs of driving an automobile are greater than the private costs of driving an automobile, then

• A) the external costs of auto driving exceed the social costs of auto driving.
• B) the external costs of auto driving exceed the internal costs.
• C) the price of automobile driving is too high.
• D) either people drive their autos too much or more funds should be spent on reducing air pollution.

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Definitions:

Parol Evidence Rule

A legal principle in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous negotiations to alter or contradict the terms of a written agreement.

Condition Precedent

refers to a condition or event that must occur before a contract becomes effective or before a party is obligated to perform their contractual duties.

Parol Evidence Rule

A principle in contract law that prevents parties from presenting extrinsic evidence that would contradict, modify, or vary the terms of a written contract.

Oral Modifications

Oral modifications refer to changes made to the terms of an agreement through spoken communication between parties, as opposed to written amendments.