By convention, there are two major divisions of economics, called:
A. rational economics and irrational economics.
B. microeconomics and macroeconomics.
C. reservation price and opportunity cost.
D. marginal benefit and marginal cost.
Answer: B
Economics
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Refer to the scenario above. If Maria borrows her parents' car and pays for only the gasoline, what is her total cost of driving to destination A?
A) $90 B) $250 C) $300 D) $340
Economics
In terms of informal power within the Federal Reserve, which of the following groups do experts regard as the most powerful?
A) The Federal Advisory Council B) The economic staff of the U.S. Department of Commerce C) The economic staff of the Board of Governors D) Federal Reserve Bank directors
Economics