If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the two apples is the candy bar plus the three oranges
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the statements below is primarily normative in nature?
A) There is an unequal distribution of income in the United States. B) The distribution of income is more unequal in the United States than it is in Japan. C) The inequality of income that exists in the United States is partly caused by an unequal distribution of wealth. D) The distribution of income in the United States should be more equal than it is.
The credit spread refers to ________
A) the extent to which financial instruments are distributed among households at different income levels in a given society B) the difference between the London Inter-Bank Offered Rate (LIBOR) and the fed funds rate C) the price elasticity of household debt D) the interest-rate differential between risky bonds and U.S. Treasury bonds
The problem created by "scarcity":
A. could be solved if more people worked overtime. B. is not a concern for the top income earners. C. is an individual concern but not a concern on the macro level. D. applies to everyone because in general resources are limited.
A decrease in the level of capital inside a nation would cause the:
A. long-run aggregate supply curve to shift to the right. B. long-run aggregate supply curve to shift to the left. C. short-run aggregate supply curve to shift to the right. D. aggregate demand curve to shift to the right.