The principle that the cost of something is equal to what is sacrificed to get it is known as the
A. principle of opportunity cost.
B. marginal principle.
C. reality principle.
D. principle of diminishing returns.
Answer: A
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George loses his job. The BLS will consider him unemployed
A) immediately. B) only after his severance pay runs out. C) only after he begins to actively seek another job. D) even if he accepts a cheaper part-time job.
Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
Which of the following is true? a. A Nash equilibrium maximizes a player's welfare, regardless of the behavior of a competitor while a dominant strategy maximizes a player's welfare, given the actions of its competitor. b. A Nash equilibrium maximizes a player's welfare, given the actions of its competitor, while a dominant strategy maximizes a player's welfare, regardless of the behavior of
its competitor. c. A Nash equilibrium is just another name for a dominant strategy. d. A Nash equilibrium may or may not be a self-enforcing equilibrium.
If the reserve ratio is 10 percent, the money multiplier is equal to 10.
Answer the following statement true (T) or false (F)