In 2020, what was the official poverty line for a family of two adults and two children living in rural Quebec? O a. approximately $53 000 O b. approximately $39 000 O c. approximately $32 000 O d. approximately $75 000What are private costs? (O a. costs borne by the producer of an item O b. costs borne by outside parties affected by a negative externality O) c. costs borne by the government O d. costs borne by both an item's producer and outside parties affected by a negative externalityWhich of the following is an advantage of using a transferable pollution right over a pollution tax? O a. Consumer prices will not rise. O b. The government can legislate the method of abatement. O c. Governments do not need information on the cheapest abatement strategy. O d. The government receives less revenue from the tax.What will be the likely effect on output as a result of an increase in the demand for a product? O a. Output will increase, and the demand for the resources used to produce the product will rise. O b. Output will increase, and the demand for the resources used to produce the product will fall. O c. Output will increase, and the price of resources used to produce the product will increase if their supply is perfectly elastic. O d. Output will decline, while the demand for the resources used to produce the product will remain constant.Which of the following is an externality associated with owning a dog? O a. time spent walking the dog O b. dog hair in the carpet O c. protection from burglars (O d. the noise your neighbours hear when your dog barksFigure 12-2 MSG Quantity Refer to Figure 122, which represents a hypothetical market for steel. At the socially optimal output level: What is the Psocul, equal to? '3: :3' a. GI- -:: 3- b. OH '3. .3' c. Cu -:: 3- d_OF When city beautification programs are funded privately, which of the following is likely to result? O a. An overallocation of resources toward the beautification project is likely to occur relative to what is socially efficient. O b. Only contributing citizens are likely to benefit from a more beautiful city. O c. Both free riders and contributing citizens are likely to benefit from a more beautiful city. O d. The private costs exceed the marginal benefits of the beautification programs.Which of the following is likely to improve a person's income? a. early retirement O b. an increased investment in human capital O c. the ability to collect employment insurance in the event of a layoff O d. an increased preference toward leisure