Brad Tells Ricardo That Only a "Privileged Few Will Have

question 92

Multiple Choice

Brad tells Ricardo that only a "privileged few will have the honour of purchasing such an expensive and rare automobile, and his friends will be impressed." What kind of assessment is Brad making about Ricardo's style?

• A)Ricardo is Amiable
• B)Ricardo is Expressive
• C)Ricardo is Rational
• D)Ricardo is Analytical
• E)Ricardo is Condescending

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Definitions:

Negative Externality

A cost that affects a party who did not choose to incur that cost, often resulting from industrial activity, where the negative effects are felt by others, such as pollution.

Public Good

A product that is non-excludable and non-rivalrous, meaning it can be used by many simultaneously without diminishing the product's availability to others.

Private Good

A good, such as pizza, that is both rival in consumption and exclusive.

Regressive Tax

A tax system in which the tax rate decreases as the taxable amount increases, placing a larger burden on low-income earners.