The potential rewards that are available to an individual if a particular activity is undertaken are known as

The rate at which a person is willing to give up a gallon of gasoline to get one more pound of coffee and remain on the same indifference curve is called his or her

A) relative cost of coffee in terms of gasoline. B) indifference cost of coffee. C) personal price of coffee. D) marginal rate of substitution.

In the public choice (or new political economy) approach to development the emphasis is on

a. growth in the rural sector. b. the self-interested behavior of public officials. c. the dependence of LDCs on former colonial powers. d. the inherent efficiency of developing country markets.