What is externality-major income maintence programs

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1. What is externality? Why don't people take into consideration the external costs of their actions?

2. Describe four major income maintence programs in the United States.

3. Suppose a union negotiates a wage that is above the market-clearing wage. What problems does this union have to solve now? Explain.

4. Explain the implications of outsourcing for employment and wages in the domestic and foreign labor markets?

Reference no: EM131112696

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