How does the state act in correcting externalities in a state-centered economy? By not getting involved in externalities. By acting as an arbitrator and resolving disputes. By promoting actions that lead to negative externalities. By intervening to address actions affecting others positively or negatively.

How does the state act in correcting externalities in a state-centered economy? By not getting involved in externalities. By acting as an arbitrator and resolving disputes. By promoting actions that lead to negative externalities. By intervening to address actions affecting others positively or negatively.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

What are externalities; and how the government can fix it. Explain in detail.
Explain the concept of externalities; include an example, as well as how the government takes action to correct it.
Justify the statement. True/False Externalily affect a third person which doesn't have any relation with the cause of it.
Which of the following generate the type of externality previously described? Check all that apply. The city where you live has granted a permit to put a movie theater in your neighborhood, causing traffic jams at night and on weekends. A microbiology lab has published its breakthrough in swine flu research. Your roommate, Lucia, has bought a puppy that barks all day while you are trying to study economics. Eric has planted several trees in his backyard that increase the beauty of the neighborhood, especially during the fall foliage season.
Describe a positive or negative externality that you have observed in your life. In the example you provide, determine if the externality is positive or negative, explain why, and discuss if you feel like government intervention is present and/or needed. If so, how does (or how could?) the government increase market efficiency?
Refer to the figure below. This graph describes a good that: Price ($/unit) A B C-- I Social MC Private MC F Quantity (units/day) Demand
Give an example of a negative externality that you have witnessed or are personally aware of. Who is affected by this? What can be done to improve the situation?
Select the factor that would be an example of a positive externality. a war in the Middle East impacting oil prices the construction of a new rail system that allows a factory to ship their products cheaper a trade war driving up steel prices for a U.S. automaker a drought that ruins a corn harvest
Having an outdoor arena that will host country music concerts a half-mile from your neighborhood would be called a positive externality if you loved country music. If you hated country music that situation would be called? A public good. A great opportunity to learn to like country music. A frictional externality. A negative externality.
Why are externalities considered a sign of market failure?
Identify a negative externality
what is one function of the government other than correcting externalities?