Economists should consider? ________ when evaluating options.
A) only explicit costs and benefits
B) only implicit costs and benefits
C) both explicit and implicit costs and benefits
D) neither explicit nor implicit costs and benefits
Ans: C) both explicit and implicit costs and benefits
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Sales finance companies
A) purchase accounts receivable of small firms at a discount. B) sell commercial paper and buy long-term corporate bonds. C) take in deposits from savers and buy corporate commercial paper. D) are affiliated with companies which manufacture or sell goods.
When real GDP is in equilibrium with no government and no international trade
A) real planned investment spending equals real planned saving. B) real planned investment equals real planned consumption spending. C) unplanned inventories are increasing. D) unplanned inventories are decreasing.
A special interest group cannot impose its will on the majority because the perceived costs and benefits from government programs are the same for both groups
a. True b. False Indicate whether the statement is true or false
Positive statements are descriptive, while normative statements are prescriptive
a. True b. False Indicate whether the statement is true or false