What is a major opportunity cost of going to college on a full-time basis?
A. The cost of transportation to college instead of to a job
B. The cost of living expenses (room and board) to attend college
C. The foregone income that could be earned working full-time job
D. The greater income that will be earned from having a college degree
Answer: C
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Which of the following statements is true?
A. Karl Marx coined the term "the invisible hand." B. Adam Smith wrote Das Kapital. C. Karl Marx believed the state would eventually wither away leaving a worker's paradise. D. Adam Smith believed that individuals unselfishly pursue the public good.
A carbon tax placed on coal:
A. would decrease the price of coal. B. would cause some producers of goods and services, like cars, to switch to other forms of energy. C. is unlikely to affect the demand for alternative forms of energy. D. would increase the quantity of coal demanded at every price.
Public Broadcasting reads the names of local contributors on the air. This is likely to ________ the free-rider problem and lead to a ________ level of contribution to the public good.
A. increase; smaller B. increase; larger C. reduce; smaller D. reduce; larger
When the purchasing power of currencies is the same,
A) interest parity holds. B) currencies cannot change in value C) the real exchange rate is equal to the nominal exchange rate. D) interest rates are the same.