Spending money on a new car instead of a used car when you are on a fixed budget is an example of
A) a bad thing to do because you run out of money.
B) living on the edge.
C) the incursion of an opportunity cost.
D) isolating variables.
C
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In a closed economy, public saving is equal to which of the following? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) Y - C - T + TR B) Y - G - T C) T - G - TR D) Y - C - T Scenario 21-1 Consider the following data for a closed economy: Y = $12 trillion C = $8 trillion I = $2 trillion G = $2 trillion TR = $2 trillion T = $3 trillion
The notion that equally situated individuals should be taxed equally is referred to as
a. horizontal equity. b. vertical equity. c. the benefits principle. d. the Gini principle.
Which of the following is a characteristic of a natural monopoly?
a. Fixed costs are typically a small portion of total costs. b. Average total cost declines over large regions of output. c. The product sold is a natural resource such as diamonds or water. d. All of the above are correct.
Which of the following does NOT contribute directly to the persistence of structural unemployment
What will be an ideal response?