Which of the following best describes an externality?
A) something that is external to the economy
B) a sales tax on a good in addition to the market price
C) an effect of a transaction felt by someone other than the buyer or seller
D) anything produced in other countries
E) a change from what is normal
Question 2
An outward rotation of the production possibilities frontier occurs when
A) traders specialize in and exchange the products of their comparative advantage.
B) one trader steals from the other.
C) traders produce goods at exactly the same levels of opportunity cost.
D) one trader begins to produce both goods at a higher level of opportunity cost compared to the other.
external combustion engine
The arrangement of the external eye muscles: (A) lateral and (B) anterior views.
Range of Motion of the Shoulder Joint, External Rotation
Internal and External Loci of Control
Work is done by an external agent
External ear