Olivia was accepted by Northwestern and by another university. She is trying to decide where to go. Which of the following should influence her decision?
a. how much she spent applying to Northwestern, and the difference between living expenses at Northwestern and the other university
b. how much she spent applying to Northwestern, but not the difference between living expenses at Northwestern and the other university
c. the difference between living expenses at Northwestern and her second choice, but not how much she spent applying to Northwestern
d. neither how much she spent applying to Northwestern nor the difference between living expenses at Northwestern and her second choice
c
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The best alternative use of a resource is referred to as its:
A) sunk cost. B) market price. C) marginal utility. D) opportunity cost.
In the above figure, the maximum number of units that 4 workers can produce is
A) 5 units. B) 10 units. C) 15 units. D) more than 15 units.
Suppose Target decided to lower the price on all shirts as part of its Back to School promotion. The cross elasticity of demand between pants and shirts is negative
Lowering the price on shirts will ________ the demand for pants because shirts and pants are ________. A) increase; substitutes B) decrease; substitutes C) increase; complements D) decrease; complements
If large budget deficits push government debt as a share of the economy to higher and higher levels, this will eventually lead to
A) higher interest rates on the government's bonds because it will be less risky to loan the government funds. B) higher interest rates on the government's bonds because it will be more risky to loan the government funds. C) lower interest rates on the government's bonds because it will be less risky to loan the government funds. D) lower interest rates on the government's bonds because it will be more risky to loan the government funds.