Economists believe the Cost-Benefit Principle is:
A. a simple but useful model of how people should make choices.
B. an interesting intellectual exercise with little applicability to the real world.
C. of little use to those who wish to learn how to make better decisions.
D. a comprehensive description all the factors that influence people's choices.
Answer: A
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The Apple iPhone is sold in a box labeled "Made in China," but a study by economists at the Asian Development Bank found that the actual percentage of the price of the iPhone accounted for by the only work done in China, which is assembly, is
A) 4 percent. B) 12 percent. C) 25 percent. D) 65 percent.
How can a bond have a negative rate of return?
A) if the current yield is greater than the coupon rate B) if the current yield is less than the coupon rate C) if the rate of capital loss exceeds the current yield D) if the rate of capital gains is less than the current yield