Economists should consider ________ when evaluating options
A) only explicit costs and benefits
B) only implicit costs and benefits
C) both explicit and implicit costs and benefits
D) neither explicit nor implicit costs and benefits
C
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Results of the study done by Lee Benham on advertising for eyeglasses would suggest that
a. brand loyalty and market power in the eyeglass market was likely to be more pervasive in states that allowed advertising. b. eyeglass sales were more profitable in states that allowed advertising. c. optometrists would not be supportive of advertising restrictions. d. optometrists would enthusiastically endorse advertising restrictions.
A country's balance of payments records
A. the prices that a country pays for its imports and the prices that the country receives for its imports. B. the value of a country's holdings of foreign assets, minus the value of foreign holdings of the country's assets. C. capital gains and losses on a country's international assets. D. the flows of value between that country's residents and residents of the rest of the world during a period of time.