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Externalities: an externality occurs when a person’s utility if affected by another person’s consumption or by a firms production activities or when a firms profits are affected by another firms production activities or an individual’s consumption and appropriate monetary consumption is not made.
Common property resources: a common property good is a good that is not owned bu anyone. Individuals acquire ownership of common property resources by simply taking them. Self-interested individuals are likely to take as much as they can as quickly as they can. In the case of common property resources the rush to be the first can lead to depletion.
Information failure: efficiency requires that information be freely disseminated and the only charge be for the cost of transmitting the information. The private market provides an inadequate supply of information.
Faimus answered the question on February 25, 2019 at 17:31
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Date-----Exchange rate
January 2017----EURUSD 1.100
December 2017----EURUSD 1.144
Take USD as the home currency.
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d)
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GBPUSD 1.2970
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