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Negative Externalities are: A. External Benefits B. Non-excludable C. External Costs D. Non-Rivalous What term was coined by Adam Smith and is a metaphor for an economic guidance system that leads to desirable economic outcomes?     A. Competition   B. Price mechanism   C. Capitalism   D. "The invisible hand" What are the two characteristics of a public good? (Choose 2) A. External Cost B. Non excludable C. External Benefit D. Non-Rivalous

Negative Externalities are: A. External Benefits B. Non-excludable C. External Costs D. Non-Rivalous What term was coined by Adam Smith and is a metaphor for an economic guidance system that leads to desirable economic outcomes?     A. Competition   B. Price mechanism   C. Capitalism   D. "The invisible hand" What are the two characteristics of a public good? (Choose 2) A. External Cost B. Non excludable C. External Benefit D. Non-Rivalous

ECON MICRO
ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter17: Externalities And The Environment
Section: Chapter Questions
Problem 4.9P
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  1. Negative Externalities are:
    A. External Benefits
    B. Non-excludable
    C. External Costs
    D. Non-Rivalous

  2. What term was coined by Adam Smith and is a metaphor for an economic guidance system that leads to desirable economic outcomes?
     
      A.
    Competition
      B.
    Price mechanism
      C.
    Capitalism
      D.
    "The invisible hand"



  3. What are the two characteristics of a public good? (Choose 2)
    A. External Cost
    B. Non excludable
    C. External Benefit
    D. Non-Rivalous
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