You have chosen to take a trip during spring break. If you had not gone, you would either have worked at a temporary job or studied for exams. The opportunity cost of your trip is
A) the wages you would have earned from working.
B) the lower grade earned by not studying.
C) the wages you would have earned from working and the lower grade earned by not studying.
D) the value of the tri
E
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If in monopolistic competition in the short run, firms make ________ profits, then in the long run, new firms will enter the market. The ________ each individual firm's product will ________
In the new long-run equilibrium firms will make ________ profit. A) economic; demand for; decrease; zero economic B) normal; demand for; increase; zero economic C) economic; supply of; decrease; an economic D) economic; supply of; increase; zero economic
What are the key characteristics of the agrarian system in Asia that distinguish it from that of Latin America? Explain your answer
What will be an ideal response?
Use the extended AD–AS model to explain how inflation depends on aggregate demand and not the level of real GDP.
What will be an ideal response?
An increase in the required reserve ratio ____ excess reserves and _____ the money supply.
A. increases; decreases B. decreases; increases C. decreases; decreases D. increases; increases