The principle that the cost of something is equal to what is sacrificed to get it is known as the
A) reality principle. B) marginal principle.
C) principle of opportunity cost. D) principle of diminishing returns.
C
You might also like to view...
When the domestic currency is initially overvalued in a fixed exchange rate regime, the central bank must intervene in the foreign exchange market to ________ the domestic currency, thereby allowing the money supply to ________
A) purchase; decline B) sell; decline C) purchase; increase D) sell; increase
Medicare and Medicaid have eliminated the financial burden of health care for the elderly
Indicate whether the statement is true or false
Refer to the graph shown. Area C represents:
A. the total loss of surplus by consumers resulting from a monopoly. B. the loss of surplus by producers resulting from a monopoly. C. the cost to society of increasing output from Qm to Qc. D. consumer surplus redistributed to the monopolist.
A forward exchange market contract obligates the owner to make a trade at a specified exchange rate a fixed number of days in the future
Indicate whether the statement is true or false