Which of These Events Took Place First

question 45

Multiple Choice

Which of these events took place first?

• A) The Soviet Union collapsed.
• B) The United States pulled nuclear missiles out of Western European countries.
• C) The Berlin Wall came down.
• D) The two Germanys were reunited.
• E) Latvia, Lithuania, and Estonia declared their independence from the Soviet Union.

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Definitions:

External Benefits

The positive effects of a transaction or an activity on an uninvolved third party or the society at large, which are not reflected in the market prices.

Externality

An economic term describing an indirect effect of a transaction not reflected in the market price, affecting third parties who did not choose to be involved.

Hydroelectric Power

Energy generated by converting the energy of falling or flowing water into electricity, commonly through the use of dams.

Overproduction

A situation where the supply of a product exceeds the demand for it, often leading to a fall in prices and profitability.