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.
Answer: A
Economics
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It is customary to express changes in the exchange rates of two currencies over time, as:
a. the loss of purchasing power of one currency divided by the loss of purchasing power of the other currency. b. the percentage change expressed as an appreciation or depreciation of one against the other. c. a ratio of the absolute values (without signs). d. a ratio of the price of gold in each nation.
Economics
Sovereign debt crisis, a short-run phenomenon, may lead to the long-run consequence of debt ________
A) intolerance B) distortion C) seignorage D) repudiation
Economics