You have narrowed down your Friday night plans to either going bowling or playing billiards. If you choose to go bowling, then for you playing billiards is the ________ of going bowling.
A. opportunity cost
B. empirical cost
C. marginal cost
D. variable cost
Answer: A
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The United States' economy would be operating at full employment with labor unemployment rate of ___ percent and a capacity utilization rate of _____ percent.
A. 5; 95 B. 5; 85 C. 10; 95 D. 10; 85
According to the classical theory of international trade
A) only countries with low wages will export. B) only countries with high wages will import. C) countries with high wages will have higher relative prices of all goods. D) All the above are false.
Suppose that Jessica has a fixed income of $100 per month, which she spends entirely on movies and paperback books. The price of movies is $5 and the price of paperback books is $10. Which of the following combinations is not on her budget line?
A. 5 paperback books and 10 movies B. 10 paperback books and 0 movies C. 3 paperback books and 14 movies D. 8 paperback books and 5 movies
It is __________ in the United States for a bank to require a business owner to put up some of his personal assets as "__________" collateral for a loan to his business
A) legal; inside B) legal; outside C) illegal; inside D) illegal; outside