Article Summary According to a Study by the Center for Neighborhood Technology

question 217

Multiple Choice

Article Summary
According to a study by the Center for Neighborhood Technology, homes located within one-half mile of frequently-used public transportation held their value much better during the recent housing market downturn than did those without easy access to public transportation, and the greater home values reflect greater demand for neighborhoods in close proximity to public transportation. In addition to higher home values, the study found that close proximity to public transportation offers lower transportation costs, a wider variety of travel options, and access to more employment opportunities.
Source: Meg Handley, "Study: Proximity to Public Transit Boosts Home Values," U.S. News & World Report, March 22, 2013.
-Refer to the Article Summary. Higher home values which result from close proximity to public transportation are an example of a ________ due to the public transportation.

• A) positive externality.
• B) negative externality.
• C) private cost.
• D) social cost.