Economics involves marginal analysis because:
A. most decisions involve changes from the present situation.
B. marginal benefits always exceed marginal costs.
C. marginal costs always exceed marginal benefits.
D. much economic behavior is irrational.
Answer: A
Economics
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When the price level in the United States rises relative to the price level of other countries, ________ will rise, ________ will fall, and ________ will fall
A) net exports; exports; imports B) net exports; imports; exports C) exports; imports; net exports D) imports; exports; net exports
Economics
Since the 1970s, the Phillips curve has:
a. remained stable. b. moved in a clockwise direction. c. been unstable. d. been used as a reliable model to guide public policy.
Economics