You own the video game Grand Theft Auto V. The opportunity cost of playing this game for the second time
A. is the value of the alternative use of the time you spend playing the game.
B. is one-half the cost of the game, as this is the second time you have played it.
C. is zero.
D. cannot be calculated.
Answer: A
You might also like to view...
Refer to Figure 4.1. The dominant strategy for Simon is
A) Up B) Down C) both Up and Down D) Simon does not have a dominant strategy.
Suppose $100 is deposited in a bank account paying 5% compounded annually. If the interest earned is X after five years, then the interest earned will be 2X after 10 years
Indicate whether the statement is true or false
Which is NOT true about the use of economic models?
A) Economic models are simplified representations of the real world. B) Economists always use experiments in science laboratories to test their theories. C) Economists use what has already happened in the real world to test their theories. D) Economists are employed to explain economic phenomena but are never used to predict what might happen next.
A margin call is when:
A. prices on future values of a stock are forecasted to be lower than current prices. B. prices on future values of a stock are forecasted to be higher than current prices. C. it looks like you are in danger of running through your money, and your broker forces you to sell your stock and use the money to pay back your loan. D. the market reaches a tipping point, and the financial bubble bursts.