The standard economists use to assess whether an activity should be undertaken is
a. majority vote
b. the marginal benefit assessment.
c. the gold standard
d. economic efficiency.
D
You might also like to view...
The term time inconsistency is used to describe:
A. a situation in which we regret choices we make simply because of when we made the choice. B. a situation in which we change our minds about what we want simply because of the timing of the decision. C. people's inability to correctly predict how their current choices will affect them in the future. D. people's inability to make choices today that determine their actions in the future.
If people expect inflation to increase in the future, explain what will happen to consumption and saving
From the early 1990s until recently, the only major country suffering from deflation is ____.
Fill in the blank(s) with the appropriate word(s).
A reduction in the marginal propensity to import will cause
A) the multiplier to increase and a given change in government spending (G) to have a larger effect on domestic output. B) the multiplier to increase and a given change in government spending (G) to have a smaller effect on domestic output. C) the multiplier to decrease and a given change in government spending (G) to have a larger effect on domestic output. D) the multiplier to decrease and a given change in government spending (G) to have a smaller effect on domestic output.