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According to Ronald Coase, which of these is NOT necessary to achieve a socially optimal level of pollution?
Aggregate Demand
The combined need for all commodities and services in an economy, quantified at a set price level and within a specific period.
Federal Budget Surplus
A situation where the government's income exceeds its spending, resulting in excess funds for a given fiscal period.
National Debt
The aggregate sum of funds that a nation's government has accrued in debt and remains liable for.
Federal Budget Deficit
The shortfall in the federal government's revenue compared to its expenditures over a specified period, typically a fiscal year.
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