Externalities

question 212

Multiple Choice

Externalities

• A)cause markets to fail to allocate resources efficiently.
• B)cause equilibrium prices to be too high.
• C)benefit producers at the expense of consumers.
• D)cause equilibrium prices to be too low.

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Definitions:

Shelly V. Kraemer

A landmark United States Supreme Court case that addressed the legality of racially restrictive housing covenants.

American National Exhibition

A showcase event, often referring to ones held during the Cold War era, intended to display American culture, technology, and achievements.

Moscow

The capital city of Russia, known for its historical and cultural significance, as well as being a major political, economic, and scientific center.

Model Suburban Home

An ideal or typical design for a house in suburban America, typically featuring a yard and distinct from urban and rural designs.