Rational people make decisions at the margin by
A、following marginal traditions.
B、following marginal traditions.
C、thinking in black-and-white terms.
D、comparing marginal costs and marginal benefits.
A、following marginal traditions.
B、following marginal traditions.
C、thinking in black-and-white terms.
D、comparing marginal costs and marginal benefits.
I stood there wanting to ask more questions but found that was not the____time.
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A、force the model to yield the correct answer.
B、minimize the amount of work an economist must do.
C、simplify the model while keeping important details.
D、express the relationship mathematically.
A、government intervention.
B、the political process.
C、people’s pursuit of self-interest.
D、altruism.
A、the quantity of money
B、the level of unemployment
C、productivity
D、equality
A、externalities and market power.
B、market power and incorrect forecasts of consumer demand.
C、xternalities and foreign competition.
D、incorrect forecasts of consumer demand and foreign competition.
A、descriptive.
B、claims about how the world should be.
C、claims about how the world is.
D、made by economists speaking as scientists.
A、helps to explain how participants in the economy interact with one another.
B、helps to explain how the economy is organized.
C、incorporates all aspects of the real economy.
D、Both (a) and (b) are correct.
A、on the production possibilities frontier.
B、outside the production possibilities frontier.
C、on or inside the production possibilities frontier.
D、inside the production possibilities frontier.
A、when the first country can only produce the first good and the second country can only produce the second good
B、when the first country can produce both goods, but can only produce the second good at great cost, and the second country can produce both goods, but can only produce the first good at great cost
C、when the first country is better at producing both goods and the second country is worse at producing both goods
D、Two countries could gain from trading two goods under all of the above conditions.
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