A decrease in the discount rate by the Federal Reserve causes the money stock to expand

The sum of the explicit and implicit costs incurred in the production process is called:

a. fixed cost. b. sunk cost. c. marginal cost. d. total cost.

If a road is congested, then use of that road by an additional person would lead to a

a. negative externality. b. positive externality. c. Pigovian externality. d. free-rider problem with rush hour drivers stuck in traffic.