The saying that "You cannot have your cake and eat it too" illustrates the economic concept of
A. a positive statement.
B. physical capital.
C. a normative statement.
D. opportunity cost.
Answer: D
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The federal budget exhibited a $128.7 billion surplus in 2001 but moved to a deficit of $157.8 billion in 2002
Some argued the deficit was opened up because of the Bush 2001 tax cuts, but others argued that the deficit grew because of the recession suffered in 2001. Evaluate the validity of the second argument.
An increase in the real interest rate in the United States will cause net capital outflows to ________ and cause the dollar to ________ relative to other currencies
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Explain the externality generated when a shepherd grazes sheep in a field that is common property that several other shepherds use
What will be an ideal response?
A nation can determine how close it is to the classical range by considering its:
a. Net export position. b. Capacity utilization index. c. Exchange rate. d. All of the above.