In economics, marginal analysis _____
a. has no practical applications or real-world uses.
b. eliminates incorrect decisions and bad choices.
c. involves comparing the additional costs and additional benefits of an activity.
d. involves examining only the total costs and total benefits of an activity.
e. guarantees an incorrect decision.
c. involves comparing the additional costs and additional benefits of an activity.
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Which of the following will happen if the GDP of a country increases and the population remains constant?
A) Income per capita will remain constant. B) Income per capita will increase. C) Unemployment rate will increase. D) Gross national product will decrease.
Explain briefly the vent-for-surplus theory of international trade. What is the relevance of this theory to the current development experience of low-income economies?
What will be an ideal response?
Price discrimination allows a monopolist to make higher profits
a. True b. False Indicate whether the statement is true or false
Data indicate that the velocity of M1 is greater than the velocity of M2
a. True b. False Indicate whether the statement is true or false