A cost-justified precaution is a safety measure whose
A) benefits outweigh its costs.
B) costs outweigh its benefits.
C) costs equal its benefits.
D) costs are zero.
A
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According to your textbook, critics of "globalization" often fail to understand that
A) money makes the world go round. B) voluntary trade is mutually beneficial. C) economics applies only to capitalist economic systems. D) greed is better than love.
Labor productivity rises
A) if the amount of capital per worker increases. B) in the absence of technological progress. C) if firms invest in hiring more workers rather than buying more capital. D) if the amount of capital per worker decreases.
For this question, assume that Ricardian Equivalence proposition does not hold. Briefly discuss the short-run, medium-run and long-run effects of a fiscal expansion (e.g. tax cut)
What will be an ideal response?
Total cost refers to
A. the fixed costs of production. B. the sum of average fixed cost and average variable cost. C. the full economic costs of production. D. the explicit costs of production.