The opportunity cost of an activity is best measured
a. only by the monetary costs
b. by the number of alternative activities that were forgone
c. by the cost difference between the chosen activity and the next best alternative
d. by the value expected from the best alternative that is forgone
e. as the time wasted choosing among various activities
D
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Give an example of an industry that would seek intellectual property rights protection because its product incorporates innovation and research
What will be an ideal response?
Hans Selye called beneficial stress:
a. Distress b. Eustress c. Prostress d. Type B stress
Savings that pay for capital investment can come from:
A. within a country. B. outside a country. C. domestic savings. D. All of these are true.
The intersection of the aggregate demand and the aggregate supply curve defines the equilibrium level of _____ and the price level
a. real interest rate b. nominal interest rate c. nominal GDP d. real GDP e. unemployment