The additional benefit of increasing some activity by one unit is called the

A) marginal benefit.
B) opportunity cost.
C) total benefit.
D) scarcity.
E) unit cost/benefit.


A

Economics

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On the diagram above, show the quantity of consumption per worker in equilibrium

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Your bank account pays 3% interest per year. You loan a friend $100 for one year at zero interest. Assuming the loan is paid on time the opportunity cost of the loan is

A. $0. B. $103. C. $3. D. $100.

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Given the MPS = 0.40, with no government and no foreign trade, a $10 billion increase in investment will eventually result in an increase in

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Which of the following explains the relatively high growth rate of output in China since 1980?

A) accumulation of capital B) technological progress C) a transition from central planning to a market economy D) all of the above

Economics