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ECON-200-03 Principles of Economics (20243SP)
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In the past, a lighthouse was used to aid ship captains in safely landing their vessels. The light from the lighthouse is ......... and ...........
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Suppose that solar-powered car technology advances to the point that solar-powered cars become affordable for the average consumer.
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In economics, the term 'free rider' refers to
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An externality is defined as
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If the social benefit of consuming a good or a service exceeds the private benefit
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Which of the following is a NOT a source of market failure?
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Which of the following activities create a negative externality?
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A negative externality exists if
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When a tornado is sighted in Rock Island, sirens go off to warn people to seek shelter. The sound of the siren is ........ and .................
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What is a market failure?
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