Thomas and Alva Should Begin to Be Concerned About a Possible

question 102

Multiple Choice

Thomas and Alva should begin to be concerned about a possible hearing impairment if their infant son does not begin to imitate speech sounds and simple words by

• A) 1 month of age.
• B) 4 months of age.
• C) 6 months of age.
• D) 12 months of age.

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Definitions:

Marginal Social Benefits

The extra advantage obtained by society from the consumption of an additional unit of any product or service.

Positive Externalities

Benefits that are enjoyed by third-parties as a result of an economic transaction or activity, without them directly participating in the transaction.

Pigouvian Tax

A tax imposed on activities that generate negative externalities, aimed at correcting an inefficient market outcome.

Marginal Social Benefits

The incremental benefit the public receives from consuming an additional unit of a good or service.