Lucy can bake 200 cookies in an hour or watch her favorite tv show. If she chooses to watch her show, the cookies are an example of
a. Unlimited resources
b. Limited wants
c. Opportunity cost
d. None of the above
c
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The Big Mac index:
A. is measured by The Economist. B. is a simple measure that indicates differing costs of living in different countries. C. converts the price of a Big Mac worldwide to dollars, and compares it to how much they cost in the U.S. D. All of these statements are true.
The top 20 PACs, Political Action Committees, spent how much in 2010?
a. 100 million b. $200 million c. $300 million d. $400 million
Congressional representatives have called for extensive ergonomics regulations to reduce strains and injuries from repetitive activities by workers. Such regulation, if passed, would be a good example of:
A. industrial regulation. B. the principal-agent problem. C. the free-rider problem. D. social regulation.
Pavel is considering buying a $10,000 bond with no expiration date that generates yearly payments of $500. If the price of the bond were to fall to $9,000:
A. the bond's rate of return would rise from 5 percent to 5.6 percent. B. the bond payments would fall to $450 per year. C. Pavel should definitely buy the bond because the price is lower. D. Pavel should definitely not buy the bond because the lower price means it is worth less.