Specialization in trade will be economically efficient if it is based upon

Discuss how the Fed selling securities in the open market ripples through the different sectors of the economy

What will be an ideal response?

In advising Congress and the President on how much to increase defense spending in response to security concerns, economists would suggest that they evaluate the

A. average cost per citizen of defense versus its average benefit. B. median cost per citizen of defense versus its median benefit. C. total cost of defense versus its total benefit. D. marginal cost of each additional dollar spent on defense versus its marginal benefit.