The president of the Federal Reserve District Bank of New York holds a permanent seat on the Federal Open Market Committee

Indicate whether the statement is true or false


True

Economics

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The opportunity cost of any action is

A) all the possible alternatives given up. B) the highest-valued alternative given up. C) the benefit from the action minus the cost of the action. D) the dollars the action cost.

Economics

Refer to Table 19-18. What is real GDP in 2016, using 2016 as the base year?

A) $28,885 B) $11,790 C) $11,200 D) $10,275

Economics

Prospect theory can explain why

A) people tend to gamble on long odds with small expected utility. B) people tend to sell their losing stocks and keep their winning stocks. C) people should only sell their losing stocks. D) people should never play the lottery.

Economics

More enjoyable professions tend to enjoy compensating wage differentials

a. True b. False

Economics