​If a Good Gives Rise to Substantial External Benefits to Society

question 179

True/False

​If a good gives rise to substantial external benefits to society that are associated with its production and/or consumption, then the good likely has too many resources devoted to its production.

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Definitions:

Reasoning

Cognitive process(es) used in transforming given information, called premises, into conclusions. Reasoning is often seen as a special kind of thinking.

Content Effects

The impact that the subject matter has on the processing and outcome of cognitive tasks.

Formal Reasoning

Reasoning about problems with explicit premises, finite solutions, and well-defined operations.

Americans

Residents or citizens of the United States, often referring to their culture, society, or characteristics.