7 1 point A marginal change in a O change that involves little, if anything. that is important Large, significant adjustment. change for the worse, and so it is issually a short-term change. unall, incremental adjustingt 1 point A rational decision maker takes in action only ifthe O marginil benefit is less than the marginal cost marginal benefit is greater than the marginal cost average benefit is greater than the average cost. marginal benefit is greater than bodi the average cost and the marginal cost. 1 point What you give up to obtain an item is called your opportunity coul Explicit cost moncury COL direct cost.4 1 point The growth rate of output per person over a long time span is a measure of short-run economic fluctuations long-run growth economic equity O Inflation 5 1 point "An increase in the overall level of prices in an coonoory i's referred tolit the income effect Inflation. O the wobeingion effect. B 1 point The increase in Irving wan deeds of American workers over the past century is primarily doe to the mccow of labor unions 10 minimum wage Lim improvements in productivity. 11 None of the above are compel 12This quit contains 25 questions from the assigned teat book readings and this module's short concept videos, The correct answers and questions will be available after the due date. 1 1 point Suppose the economy is operating at potential output when a positive demand shock occurs. We would expect inflation to O rise remain stable 2 2 1 poles The price associated with the credit market is price index for goods and services the unemployment rate the exchange rate O the real Interest rate 3 I point Short-run fluctuations are temporary movements of output O away from long run trend growth are sometimes called business cycles 10 are called recessions when output growth falls below trend growth 11 O all of the above 12