Opportunity cost usually
a. cannot be measured
b. applies to labor but not to capital
c. is involved in calculating economic profit
d. is greater than the cash payment made to a resource
e. is less than the cash payment made to a resource
C
You might also like to view...
An increase in interest rates results in a(n) ________ in the required rate of return to hold stocks and ________ current stock prices.
A. decrease; reduces B. decrease; raises C. increase; reduces D. increase; raises
If expectations are adaptive, how will the economy adjust to a new long-run equilibrium in response to contractionary monetary policy? Support your answer with a graph of the Phillips curve
What will be an ideal response?
The actions of buyers and sellers naturally move markets toward equilibrium
a. True b. False Indicate whether the statement is true or false
A significant portion of actual world trade patterns results from
A. different factor endowments between countries. B. the industrial policies of governments. C. the different tastes and preferences of people in different countries. D. different sizes of the countries.