The marginal benefit of an action:
A. equals the additional benefit produced by extra units of X and tends to decrease as X increases.
B. equals the additional benefit produced by the total units of X and tends to increase as X increases.
C. equals the additional benefit produced by the total units of X and tends to decrease as X increases.
D. equals the additional benefit produced by extra units of X and tends to increase as X increases.
A. equals the additional benefit produced by extra units of X and tends to decrease as X increases.
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One of the largest categories of exports from the United States is now pop culture: movies, music, TV programming, and videos. A direct conclusion from this information is that, compared to other countries, the United States has
A) lower wages for producers of pop culture. B) higher wages for producers of pop culture. C) a higher opportunity cost of producing pop culture. D) a lower opportunity cost of producing pop culture.
Which of the following statements best captures the relationship between microeconomics and macroeconomics?
a. For the most part, microeconomists are unconcerned with macroeconomics, and macroeconomists are unconcerned with microeconomics. b. Microeconomists study markets for small products, whereas macroeconomists study markets for large products. c. Microeconomics and macroeconomics are distinct from one another, yet they are closely related. d. Microeconomics is oriented toward policy studies, whereas macroeconomics is oriented toward theoretical studies.
The distribution of GDP between different factions within an economy most closely relates to the _____________ method of aggregate accounting. The fact that the value of GDP remains equal regardless of whether GDP is measured by what people are earning or what they are producing is referred to as an ___________.
Fill in the blank(s) with the appropriate word(s).
Compare and contrast globalization as it existed in the late nineteenth century with globalization today
What will be an ideal response?