The tuition you paid at the beginning of the term is a sunk cost, when determining the opportunity cost of attending a session of the class
a. True
b. False
Indicate whether the statement is true or false
True
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The capital and financial account measures ________
A) foreign investment in the United States minus U.S. investment abroad B) capital produced outside of the United States minus capital produced inside the United States C) capital used inside the United States but manufactured outside the United States D) capital used outside the United States but manufactured inside the United States
In an expansion,
a. federal budget deficits tend to rise b. federal budget deficits tend to fall c. the federal debt tends to rise faster than in a recession d. federal government tax receipts tend to fall e. there is pressure on the Fed to monetize the debt
Refer to Table 2.2, which presents hypothetical data on cross-price elasticity of demand estimates. Which goods are the best substitutes?
A. Coke and Pepsi
B. Hard Liquor and Beer
C. Beef and Chicken
D. Cheese and Butter
The price elasticity of supply will always be a negative number.
Answer the following statement true (T) or false (F)