In the Presence of Externalities, the Equilibrium Prices of Goods

question 71

True/False

In the presence of externalities, the equilibrium prices of goods and services-the figures used in GDP calculations-reflect their true values to society.

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Definitions:

Descended

The term refers to something that has originated or been derived from an ancestor or source.

Billion Years

A period of time equaling one thousand million (1,000,000,000) years, often used in the context of the age of the Earth and universe.

Sexual Selection

Mode of natural selection in which some individuals outreproduce others of a population because they are better at securing mates.