Holiday in Lucerne – Lucerne Travel for , flexible exchange rates) or at specific levels by government (e.g., fixed exchange rates). explicit costs: monetary (actual) costs of firms from producing goods and services. exports: the quantity of goods, services, and capital assets that a country sells to other nations. externality: when the consumption or production of a good by one individual affects the consumption or production of another individual and no compensation is made for this negative or positive effect. Externalities with negative effects, like pollution, are negative externalities and can result in overproduction or consumption, whereas externalities with positive effects, like Glossary 939 research and development, are positive externalities and can result in underproduction or consumption. Holiday in Lucerne – Lucerne Travel 2016.