Answered: ver the past decade China and India are…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Question 3

This is not a writing assignment, this is a multiple-choice question

Over the past decade China and India are two countries that have been growing faster than most othe countries. But the higher economic growth and production is also resulting in pollution, poorer air quality in their major cities such as Beijing and Bombay, and environmental damage that harms society at large.

The correct economic term for pollution and environmental depletion (NE chap 3) would be:

Group of answer choices

negative externality

positive externality

public bads

negative internality

public goods

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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