Opportunity cost is objective; therefore, its value does not change as circumstances change
a. True
b. False
B
You might also like to view...
The quantity of money people want to hold increases if
A) the price level falls. B) the nominal interest rate rises. C) real GDP increases. D) All of the above answers are correct.
An economy without money would have no exchanges of goods and services
Indicate whether the statement is true or false
Which of the following products are likely to be complementary goods?
A) Coke and Pepsi B) portable MP3 players and batteries C) HD-DVDs and Blu-Ray DVDs D) Domino's pizza and Papa John's pizza
Why might the consumer price index overestimate the cost of health care?
a. The quality of healthcare is declining. b. The quality of healthcare is improving. c. The quality of healthcare is constant. d. The quality of health care is unmeasurable.