Match each term with the correct definition.
economics
opportunity cost
marginal analysis
utility
a. the next-best thing that must be forgone in order to produce one more unit of a given product.
b. the pleasure, happiness, or satisfaction obtained from consuming a good or service.
c. the social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.
d. making choices based on comparing marginal benefits with marginal costs.

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

1. gar principles or "the principles"are intended to do what?

Financial information that is capable of making a difference in a decision is