Use the Following to Answer Question

question 109

Multiple Choice

Use the following to answer question:
-(Figure: Marginal Benefits and Marginal Costs) Use Figure: Marginal Benefits and Marginal Costs.More time spent studying economics adds points to economics scores (MB) but subtracts points from accounting scores (MC) .At 4 hours of study,Claudia will maximize her benefit from study time because:

• A)MB > MC.
• B)MB = 20 and MC = 5.
• C)the difference between total benefits and total costs is maximized.
• D)sunk costs are minimized.

Distinguish between intermediate goods and final goods in the context of GDP calculation.

Appreciate the effect of inflation and deflation on real GDP and nominal GDP.

Interpret economic indicators related to GDP, including per capita real GDP and the GPI.

Assess the implications of the underground economy on the measurement of GDP.