When economists speak of "marginal", they mean
a. Opportunity
b. Scarcity
c. Incremental
d. Unimportant
c
Economics
You might also like to view...
Approaching a business cycle peak, actual real GDP ________ natural real GDP, which causes inflation to ________
A) exceeds, remain constant B) exceeds, accelerate C) is less than, decelerate D) equals, accelerate E) equals, remain constant
Economics
The term Ceteris paribus means that:
a. everything is changing. b. all other things remain unchanged. c. no one knows which variables will change and which will remain constant. d. the basic principle of economics do not apply to the case being considered.
Economics