Many Detrimental Externalities Occur Because

question 96

Multiple Choice

Many detrimental externalities occur because

• A)persons do not pay the full social cost of using a resource.
• B)persons do not pay the full private cost of using a resource.
• C)companies do not pay the market price for natural resources.
• D)companies pay more than the full social cost of using a resource.

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Definitions:

Efficiency Wages

Wages set above the market equilibrium to increase worker productivity, reduce turnover, and avoid shirking.

Bureau of Labor Statistics

A U.S. government agency that collects and disseminates various labor economics statistics, including unemployment and wage data.

Labor Force

The total number of people, both employed and unemployed, who are actively seeking and available for work in the economy.

Labor Force

The total number of people who are employed and those who are actively seeking employment.