Two types of costs must be considered when selecting the optimal decision rule. They are _____ and _____
a. decision-making costs; external costs
b. marginal costs; variable costs
c. decision-making costs; political costs
d. political costs; external costs
a
Economics
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Economic models like the AD-AS model tell us:
A. how to determine which economic variables are changing. B. what to expect if we know what is happening. C. exactly what is happening. D. nothing useful about the real world.
Economics
If there are no statistical discrepancies, NDP is:
a) NI minus net foreign factor income. b) NI plus corporate income taxes. c) GDP deflated for increases in the price level. d) GDP minus taxes on production and imports.
Economics