A student has two options: she can either surf the web, or work part-time. Working part-time pays her $20 per hour. What is the student's opportunity cost of surfing the web for 5 hours?
A) $4
B) $20
C) $50
D) $100
D
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An imperfectly competitive firm faces a demand curve that is:
A. perfectly elastic. B. more than perfectly elastic. C. downward sloping. D. perfectly inelastic.
The following is NOT an example of a potential monitoring solution to moral hazard
a. a pre-hire typing test for clerical employees b. closed circuit TVs throughout a warehouse c. GPS tracking devices in repair trucks d. listening in on call center conversations
Cyclical deficit (surplus):
What will be an ideal response?
If the government should decide to legalize marijuana, all other things remaining the same, we should expect to see
A. a decrease in the price of marijuana. B. an increase in the price of marijuana. C. an increase in the use of imported versus domestic marijuana. D. a decrease in the demand for marijuana.