Which of these explain why growth is an important economic goal?
Answer:
-it increases standards of living
-it increases real wages and incomes
-it increases a society's ability to resolve socioeconomic problems
Economics
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Making choices by selecting the best feasible option, given the available information is referred to as:
A) optimization. B) delegation. C) imposition. D) actualization.
Economics
In analyzing the decision to shut down in the short run we assume that the firm's fixed costs are
A) nonmonetary opportunity costs. B) sunk costs. C) implicit costs. D) capital costs.
Economics