If a Particular Choice That an Individual Faces Gives Him

question 98

Multiple Choice

If a particular choice that an individual faces gives him a benefit of $20 but costs $30,the net benefit from making this choice equals ________.

• A) $20
• B) $10
• C) −$10
• D) −$30

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Definitions:

Merchandise Trade Balance

The difference between a country's exports and imports of tangible goods.

Services Trade Balance

The difference between exports and imports of services of a country, reflecting whether a country is a net provider or consumer of services internationally.

Adam Smith

An 18th-century economist known as the father of modern economics, famous for his theories on free markets and the 'invisible hand'.

International Trade

The exchange of goods and services across international boundaries.