When economists say an activity is consistent with economic efficiency, they mean
a. a majority of citizens favor the activity.
b. the benefits that result from the activity exceed the costs.
c. the number of people who gain from the activity exceeds the number on whom costs are imposed.
d. the costs that result from the activity exceed the benefits.
B
Economics
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Since 1970, the U.S. federal government had a budget surplus
A) in almost every year. B) in a few years in the 1990s. C) only once, in 2008. D) The U.S. federal government has not had a budget surplus since 1970.
Economics
Explain why a relative price is an opportunity cost
What will be an ideal response?
Economics