Macroeconomic stability has been a high priority for the economic policies of the HPAE

A person should consume more of something when its marginal:

A. benefit exceeds its marginal cost.
B. cost exceeds its marginal benefit.
C. cost equals its marginal benefit.
D. benefit is still better.

Which of the following sets of terms describes the problem of scarcity in economics?

A. goods, land, and needs B. choices, opportunity costs, and trade-offs C. labor, needs, and opportunity costs D. production, consumption, and wants