If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the two apples is the candy bar plus the three oranges
a. True
b. False
Indicate whether the statement is true or false
False
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Dynamic and static games have outcomes that
A) may be different. B) are always different. C) are not Nash equilibria. D) result from dominant strategies.
Which of the following is not likely to incorporate a great deal of economic rent?
a. the salary paid to Paula Abdul as a judge on American Idol b. the price for dinner at a nice restaurant in a major city c. rental of beachfront property during the summer d. sale of piece the parquet floor previously in the famous Boston Garden
Which of the following is most likely to increase U.S. exports?
a. The government gives subsidies to U.S. firms that export goods or services. b. The government reduces the size of the budget surplus. c. The United States unilaterally reduces its restrictions on foreign imports. d. Taxes on domestic saving rise.
In the simple circular flow diagram, the flow of money from the markets for goods and services to the firms is called
a. spending. b. revenue. c. income. d. wages, rent, and profit.