The "Bull Moose" Party, Formed in 1912 to Support Theodore

question 38

Multiple Choice

The "Bull Moose" Party, formed in 1912 to support Theodore Roosevelt was a

• A)green party.
• B)Libertarian party.
• C)splinter party.
• D)populist party.
• E)Communist party.

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Definitions:

Externalities

Economic side effects or consequences of commercial activities that affect other parties without being reflected in the cost of the goods or services involved.

Market Failure

A less than efficient allocation of resources.

Public Goods

Public goods refer to commodities or services that are made available to all members of a society, typically funded by the government, and characterized by non-excludability and non-rivalry in consumption.

Externalities

Consequences of an economic activity experienced by unrelated third parties; can be positive or negative.