Each of the Following Is a Step in Conducting a Benefit-Cost

question 13

Multiple Choice

Each of the following is a step in conducting a benefit-cost analysis of a project, except:

• A) prepare a clear overview of the project including specifics about scale and perspective
• B) estimate the social costs and benefits of the inputs and outputs of the project
• C) quantitatively describe the inputs and the outputs of the program
• D) all of the above are steps in benefit-cost analysis

---

Definitions:

Historical Price Patterns

The analysis of past price movements to forecast future price behavior in financial markets.

Market Efficiency

A market characteristic where prices fully reflect all available information, making it impossible to consistently achieve higher returns.

Arbitrage Opportunities

The chance to buy an asset at a low price in one market and sell it at a higher price in another, exploiting the price difference for profit.

Real Asset Markets

Markets that deal with physical assets like real estate, commodities, and natural resources, as opposed to financial assets.