According to Dr

question 165

Multiple Choice

According to Dr.Eric Kramer,when evaluating a patient for dementia,the possibility of the existence of dementia-like symptoms must be ruled out.One such test for that purpose measures

• A) the amount of kale one has consumed.
• B) the number of steps one has taken.
• C) the amount of Vitamin B-12 in the body.
• D) the amount of free uric acid in the bloodstream.

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Definitions:

Positive Externality

A benefit gained by a third party not directly involved in a transaction or activity, where the social or economic gain is not reflected in the market price.

Social Planner

A theoretical decision-maker in economics who aims to achieve optimal outcomes for society by considering the allocation of resources and distribution of goods and services.

Subsidy

A payment made by the government to a firm, industry, or individual, usually to encourage the production of a certain good or service or to reduce its price for consumers.

Output

The quantity of goods or services produced in a given time period, by a firm, industry, or country.