See each of the following characteristics or scenarios about externalities. Choose a correct answer whether each statement matches with the term negative externality or the term positive externality. a. Resources are overallocated. <-- ( Positive, Negative) externality b. Gini installs a very nice front garden, raising the property values of all the other houses on her block. <-- ( Positive, Negative) externality c. Market demand curves are too far to the left (too low).<-- ( Positive, Negative) externality d. Resources are underallocated. <-- ( Positive, Negative) externality Blank # 1 Blank # 2 Blank # 3 Blank # 4

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