Which of the following statements is true of marginal analysis?
A) Marginal analysis is a tool used in optimization in levels.
B) Marginal analysis compares the consequences of doing one more step of something.
C) Marginal analysis of alternatives will mostly give an outcome different from optimization in levels.
D) Marginal analysis involves the calculation of total net benefits of all the available alternatives.
B
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As a manager of an industrywide trade organization, your decisions regarding industrywide advertising are ________ if the participating firms' marginal benefits are similar as there will be ________ disagreement among the firms regarding the amount of the industrywide advertising.
A) easier; less B) harder; less C) easier; more D) harder; more
The statistical analysis of economic data is referred to as:
A. econometrics. B. calculus. C. deductive reasoning. D. microeconomics.
In the national income accounts, the purchases of durables, nondurables, and services by households are classified as:
a) consumption. b) investment. c) net exports. d) government purchases.
Historically, the leading official reserve asset was
A) gold. B) the U.S. dollar. C) the British pound. D) the German mark.