You can either read a book, get something to eat, or take a nap. The opportunity cost of getting something to eat is _____
a. the cost of what you eat.
b. the difference between the costs of the book and the food.
c. the difference between the opportunity costs of reading and sleeping.
d. the net benefit of sleeping.
e. impossible to determine because the most preferred alternative is not known.
e. impossible to determine because the most preferred alternative is not known.
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A tariff makes the total economy
A) better off because it increases the domestic production of the good. B) better off because it decreases the deadweight loss from international trade. C) worse off because it creates a deadweight loss. D) worse off because it creates revenue for the government. E) worse off because it decreases both domestic consumer surplus and domestic producer surplus.
The value of the four-firm concentration ratio that many economists consider indicative of the existence of an oligopoly in a particular industry is
A) anything greater than 10 percent. B) anything greater than 40 percent. C) anything greater than 30 percent. D) anything greater than 20 percent.
If the cost of capital is 5% then the net present value of the investment is
a. $6,020.41 b. $7,380.95 c. -$7,380.95 d. $10,000
Fiscal and monetary policy can reduce unemployment with no negative side effects
a. True b. False Indicate whether the statement is true or false