Saving time by driving faster is an example of a ________ of driving faster. Increasing the severity of injuries from a potential accident due to driving faster is a(n) ________ of driving faster
A) nominal cost; real cost B) normative benefit; opportunity cost
C) marginal benefit; marginal cost D) marginal cost; nominal cost
C
You might also like to view...
Use the above table. If these two countries, Alpha and Beta, specialize based on comparative advantage
A) Alpha will specialize in cookies, and Beta will specialize in coffee production. B) Alpha will specialize in producing both items. C) Beta will specialize in producing both items. D) Alpha will specialize in coffee, and Beta will specialize in cookies.
Disposable income is
A) equal to GDP minus the capital consumption allowance. B) that portion of personal income that can be used for consumption and saving. C) the sum of all payments to suppliers of the factors of production. D) equal to national income. E) another term for personal income.
For this question, assume that there is a simultaneous tax increase and monetary expansion. In a flexible exchange rate regime, we know with certainty that
A) the exchange rate and output would both increase. B) the exchange rate would increase and output would decrease. C) the exchange rate would decrease. D) the exchange rate would decrease and output would increase. E) none of the above
Public policy towards externalities becomes important when _____
a. transactions costs are zero b. transactions costs are low c. transactions case are high d. there is no relationship between transactions costs and externalities