Economics assumes people and firms: A. are rational, respond to incentives, and make all-or-nothing decisions.

B. know everything, respond to incentives, and make decisions by comparing marginal benefi

c. use all available information to achieve their goals, respond to incentives, and make decisic

D. use all available information to achieve their goals, respond to incentives, and make decisic

E. are rational, respond to incentives, and make decisions by comparing marginal benefits with

How does the economy of cuba differ from the economy of north korea? in north korea, the government’s control of the economy has begun to loosen. in cuba, the government maintains a tight hold over the economy. in cuba, the government’s control of the economy has begun to loosen. in north korea, the government maintains a tight hold over the economy. in north korea, there is economic uncertainty in exchange for individual choice. in cuba, there is economic security in exchange for government control. in cuba, there is economic uncertainty in exchange for individual choice. in north korea, there is economic security in exchange for government control.\

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )