Which of the following is a TRUE statement?
A. Opportunity cost is always a foregone opportunity.
B. Opportunity cost is always measured in the nation's currency.
C. Opportunity cost is an objective measure since the cost of an activity is the same for everyone.
D. The fewer alternatives there are the greater the opportunity cost.
Answer: A
You might also like to view...
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
IBM buys treasury bonds from the UK as part of its investment portfolio. This is an example of:
A. foreign direct investment. B. foreign portfolio investment. C. importing. D. exporting.
If a nondiscriminating imperfectly competitive firm is selling its 100 th unit of output for $35, its marginal revenue:
A. may be either greater or less than $35. B. will also be $35. C. will be less than $35. D. will be greater than $35.
The consumer surplus is
A. the area under the demand curve from the origin to the quantity purchased. B. the area under the demand curve but above the price line from the origin to the quantity purchased. C. the area under the supply curve from the origin to the quantity produced. D. the area under the supply curve but below the price line from the origin to the quantity purchased.