Marginal benefit refers to:
A. the average benefits that arise by using an additional unit of the managerial control variables.
B. the change in average benefits arising from a change in the control variable.
C. the additional benefits that arise by using an additional unit of the managerial control variables.
D. None of the statements associated with this question are correct.
Answer: C
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The short-run Phillips curve tradeoff becomes less favorable if either
A) the expected inflation rate or the natural unemployment rate increases. B) potential GDP or the natural unemployment rate increases. C) potential GDP or the natural unemployment rate decreases. D) the level of real GDP decreases or the natural unemployment rate decreases. E) the expected inflation rate increases or the natural unemployment rate decreases.
Consider the production possibilities frontier in the figure shown. As more and more cars are produced the opportunity cost of producing more cars:
A. decreases.
B. stays the same.
C. increases.
D. decreases then increases.
Suppose Jackie is considering purchasing an asset that will have a future value of $650 in 4 years. The interest rate is 8% and the price of the asset is $500. Should Jackie buy the asset? Why or why not?
What will be an ideal response?
According to your text, who among the following have a comparative advantage in providing information that reduce transaction costs?
A) The consumer B) The bureaucrat C) The middleman D) The career politician