You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A. the economics homework you could have completed
B. the math homework you chose to complete
C. the cost of your calculator and math textbook
D. zero, because it doesn't cost any money to do your math homework
Answer: A
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According to the Monetarists, the real effect of monetary policy on output is
a. long-lasting and unpredictable. b. predictable and beneficial. c. nonexistent in the short run. d. always less than fiscal policy
In economics, secondary effects refer to the
a. value of the goods that an individual must give up as the result of choosing an alternative. b. indirect effects that often result from an action or policy change. c. immediate and highly visible intended consequences of an action or policy change. d. value of a good derived by the consumer.
By opening up to foreign markets two things countries generally experience are:
A. increase in negative trade outcomes with that nation and finding customers who generally pay less for their products. B. access to a smaller array of new products and increase in negative trade outcomes with that nation. C. access to a smaller array of new products and saving money through access to cheaper goods. D. saving money through access to cheaper goods and finding new customers for their products.
If you own a bond with a six percent coupon rate and new bonds are paying six percent, what will happen to your bond's market price?
What will be an ideal response?