Examlex
The recession of 1937 seemed to be the result of reductions in federal spending by the Roosevelt administration.
Economic Efficiency
A state where resources are allocated in a way that maximizes the production of goods and services.
External Cost
Uncompensated costs that individuals or firms impose on others outside of market transactions, often associated with pollution.
Pollution Tax
A financial charge imposed on the emission of pollutants, intended to motivate reductions in harmful environmental discharges.
Unit of Production
A single complete item or a specified amount of a commodity produced.
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