Trina's Tropical Fish Store sells goldfish for $2 each and angelfish for $10 each. What is the opportunity cost of buying a goldfish?
A) 1/5 of an angelfish B) $10 C) $2 D) 5 angelfish
A
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Large economies, such as the U.S. economy, should ________ adopt a flexible exchange rate, because giving up the power to stabilize the domestic economy via monetary policy ________.
A. almost never; is of little consequence B. nearly always; is of little consequence C. nearly always; comes with a high cost D. almost never; comes with a high cost
GDP tends to underestimate the productive activity in the economy because it excludes the value of output from ________.
A. the consumption of fixed capital B. intermediate goods C. public transfer payments to households D. the underground economy
A transfer payment is a payment
A) made by the government to its current workers. B) associated with items exported to other nations. C) for in-kind services provided to the government. D) for which no services or goods are rendered.
We may not be able to predict the outcome of a two-player game when
a. each player follows a strategy that negates the strategy of the other player b. price exceeds marginal cost c. neither player has a subsistence strategy d. neither player has a dominant strategy e. at least one player has a bilateral strategy