An Example of an Externality Is the Impact of

question 46

Multiple Choice

An example of an externality is the impact of

• A)bad weather on the income of farmers.
• B)the personal income tax on a person's ability to purchase goods and services.
• C)pollution from a factory on the health of people in the vicinity of the factory.
• D)increases in health care costs on the health of individuals in society.

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Definitions:

Within-Family Differences

Variations or disparities in characteristics, traits, or behaviors among members of the same family.

Between-Family Differences

Variations in characteristics, behaviors, or conditions observed between different families.

Socioeconomic Classes

Categories of people based on their economic and social position, commonly determined by income, education, and occupation.

Family Environment

encompasses the social and emotional atmosphere in which a person grows up or lives, including relationships with family members and the way family functions.