Hyundai is a large South Korean company that produces finished steel products. Hyundai plans to buy raw steel from U.S. Steel. As a result, the demand curve for U.S. Dollars ________ and the demand curve for South Korean Won ________

The self-interest assumption is central to the analysis of behavior in both private and public sectors

a. True b. False Indicate whether the statement is true or false

The social cost of cutting trees for firewood in a government forest is

A) the increased likelihood of flooding as more trees are cut. B) the increased likelihood of flooding as more trees are cut plus the private cost of cutting the trees. C) opportunity cost to the individual of cutting the wood. D) the marginal costs of cutting the last tree.