Betty goes out to enjoy a bouffe with her friend instead of practicing calculus problems for her maths examination that is due the following day. This implies that the opportunity cost of the bouffe to Betty is zero
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The above figure illustrates
A) a recessionary gap. B) a full-employment equilibrium. C) an inflationary gap. D) an equilibrium at the economy's physical limits.
An increase in resources available would decrease potential GDP and the long-run aggregate supply curve
Indicate whether the statement is true or false
The marginal product of labor
A) is measured by the slope of the production function relating capital to employment. B) is larger when the labor supply is relatively larger. C) is smaller when the labor supply is relatively smaller. D) decreases as the number of workers already employed increases.
Which of the following is an essential part of the market mechanism?
A. Changing relative prices B. Constant prices C. Falling average prices D. Rising average prices