A) cost of Project A; cost of Project B
B) net benefit of Project B; net benefit of Project A
C) net benefit of Project A; net benefit of Project B
D) total benefit of Project B; total benefit of Project A
C
Explain what a black market is and how it functions. What is a black market generally a response to?
What will be an ideal response?
If people suddenly anticipate that inflation will rise during the next year, which of the following is most likely?
a. Nominal interest rates will rise. b. Nominal interest rates will decline. c. The demand for goods and services will decline. d. Both the real and nominal interest rates will decline.
If the average-total-cost curve is falling, then the marginal-cost curve must also be falling
a. True b. False Indicate whether the statement is true or false
Which of the following is a positive economic statement?