The economic way of thinking stresses that
a. changes in personal costs and benefits generally fail to exert much impact on behavior.
b. incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.
c. if one individual gains from an economic activity, then someone else must lose and in the same proportion.
d. if a good is provided by the government, its production will not consume valuable scarce resources.
B
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As of 2011, which of the following was the largest stock exchange in terms of total value traded?
A) the New York Stock Exchange B) London Stock Exchange C) Shanghai Stock Exchange D) Tokyo Stock Exchange
Tax deductions were significantly ____ under the Tax Reform Act of 1986
a. increased b. decreased c. expanded d. left unchanged for individual taxpayers