With Only Eight Bits, You Can Represent 2⁸ or 256

question 53

True/False

With only eight bits, you can represent 2⁸ or 256 different decimal values.

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Definitions:

Externality Problem

A situation in which a third party is affected by the consequences of a transaction or activity between others, either positively or negatively.

Private Contract

An agreement between private parties that creates mutual obligations enforceable by law.

Pollution Permits

Tradable permits issued by governments that allow the holder to emit a certain amount of pollution; used to control and reduce environmental harm.

Corrective Taxes

Taxes designed to internalize externalities, typically by charging for negative externalities to correct market outcomes.