A fundamental principle of economics is that every choice has a(n) _____________ cost.
a. established
b. variable
c. fixed
d. opportunity
d. opportunity
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Why do health insurance companies ask their potential customers to submit their previous medical records?
What will be an ideal response?
Historically, the high level of taxation on dividends relative to capital gains or interest led to _____
a. lower levels of corporate dividends b. higher levels of corporate dividends c. no changes in corporation behavior d. fewer incorporations
If a box of Swiss chocolate priced at 100 francs can be purchased for $50, the exchange rate is:
a. 0.50 francs per dollar. b. 4.00 francs per dollar. c. 0.50 dollars per franc. d. none of these.
Capitalism is an economic system in which the production process is controlled primarily by private firms operating in markets.
Answer the following statement true (T) or false (F)