Statement I: External Costs Are Market Failures,but External Benefits Are

question 254

Multiple Choice

Statement I: External costs are market failures,but external benefits are not.
Statement II: The U.S.government provides the legal system under which our free enterprise economy can operate.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Construction

The process of building, erecting, or assembling structures, typically involving large-scale projects like buildings, roads, or bridges.

Reconstruction

The process of reassembling or reinterpreting something, often used in the context of remembering events differently from how they actually occurred.

Equipotentiality

The idea that any part of a particular functional area of the brain can perform its associated function, emphasizing brain plasticity.

Amnesia

A condition characterized by the loss of memories, such as facts, information, and experiences, which can be temporary or permanent.