One opportunity cost associated with going to college is
A. paying for the costs of food prepared at home.
B. giving up employment possibilities while in college.
C. paying for room, board, and other living expenses.
D. paying tuition.
Answer: B
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Everything else unchanged, following an adverse shift in the labor demand curve, ________
A) the increase in employment will be greater if there is downward wage rigidity B) the fall in employment will be greater if there is no wage rigidity C) the increase in employment will be greater if there is no wage rigidity D) the fall in employment will be greater if there is downward wage rigidity
Refer to Table 5.1. What is Hector's opportunity cost of producing one bracelet?
A) 1/5 of a tiara B) 1.5 tiaras C) 5 tiaras D) 6 tiaras
In the above figure, the y-coordinate of point b is
A) 1. B) 2. C) 3. D) 14.
The difference between the utility of expected income and expected utility from income is
A) zero because income generates utility. B) positive because if utility from income is uncertain, it is worth less. C) negative because if income is uncertain, it is worth less. D) that expected utility from income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the utility of expected income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure. E) that the utility of expected income is calculated by summing the utilities of possible incomes, weighted by their probability of occurring, and the expected utility of income is calculated by summing the possible incomes, weighted by their probability of occurring, and finding the utility of that figure.