Macroeconomics is a branch of economics that studies:
a. the different costs associated with production
b. the price and output decisions made by different industries.
c. the overall performance of the economy.
d. the role of a market in determining an efficient outcome.
e. the role of input suppliers in determining the price and quantity of output.
c
Economics
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If Florida issues an alligator hunting permit to Jackson, who values an alligator hunt at $2,500, instead of Oliver, who values an alligator hunt at $4,000, the $1,500 difference in values is
A) a deadweight loss. B) a negative externality. C) a transactions cost. D) the social cost of the alligator hunt.
Economics
According to the factor price equalization theorem, free international trade will result in wages equating rents worldwide
Indicate whether the statement is true or false
Economics