In Order to Achieve the Socially Optimal Level of Output

question 125

Multiple Choice

In order to achieve the socially optimal level of output, goods that entail negative externalities should be:

• A)banned.
• B)subsidized.
• C)taxed.
• D)provided by the government.

---

Definitions:

White Privilege

Social and economic benefits that are automatically granted to individuals simply because they are members of the White majority.

Economic Benefits

The advantages gained from certain actions, decisions, or policies that lead to an improvement in financial standing or economic condition.

Social Benefits

Advantages or positive outcomes gained from living within and interacting with society, including support networks and access to communal resources.

Identity Formation

The development of a distinct personality or self-concept, a critical part of an individual's personality development, often associated with adolescence.