If a market system is functioning well, we can conclude that goods with
a. high opportunity costs tend to have high money costs.
b. low opportunity costs tend to have high money costs.
c. high opportunity costs tend to have low money costs.
d. low opportunity costs tend to have zero money costs.
e. high opportunity costs tend to have zero money costs.
a
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Walton and Rockoff contend that a repetition of the Great Depression is unlikely for all of the following reasons except ____
a. the Federal Reserve is unlikely to repeat the mistakes it made in the 1930s b. the private sector is less vulnerable now because the industrial sector is relatively smaller c. government programs exist that would ameliorate suffering and inhibit the spread of a crippling panic d. the public is unlikely, even in a depression, to vote for a radical government that would frighten business and inhibit investment, the way it did in the 1930s
What is the primary problem in comparing income inequality in the US with income inequality in other countries?
When government expenditures are greater than tax revenues
A) there will be budget surplus. B) the public debt will be reduced. C) there will be budget deficit. D) automatic stabilizers do not kick in.
Itemized deductions are reductions of adjusted gross income that depend on
A. family size. B. how money is spent (e.g. on state and local taxes or home mortgage interest). C. family structure (i.e. filing status). D. how much money is saved.