Opportunity cost is the difference between the nominal and real cost of some action.
Answer the following statement true (T) or false (F)
False
You might also like to view...
One reason college students do not study enough to get high grades is that they are unrealistic about their future behavior
Indicate whether the statement is true or false
Which of the following bank assets is the most liquid?
A) consumer loans B) reserves C) state and local government securities D) U.S. government securities
Deficits are created by governments running a large debt
a. True b. False Indicate whether the statement is true or false
The relationship between the elasticity of product demand and the elasticity of demand for labor employed in its production is such that, other things being equal:
A. the more elastic the demand for the product, the less elastic the demand for labor. B. the more elastic the demand for the product, the more elastic the demand for labor. C. the elasticity of product demand only affects the elasticity of labor demand when the product market is purely competitive. D. if product demand is perfectly elastic, labor demand will be perfectly inelastic.