People who use drive-through windows at restaurants and eat while on the road tend to
a. have a low opportunity cost of time
b. have a high opportunity cost of time
c. not maximize their utility
d. act irrationally
e. value their money more than their time
B
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The above figure illustrates the demand curve for a good. The good has
A) no substitutes. B) only one substitute. C) only a few substitutes. D) many substitutes.
Banks in the United States have been prohibited from investing deposits in significant equity holdings since the passage of the
A) Bank Reform Act of 1980. B) Securities and Exchange Acts of 1933 and 1934. C) National Banking Acts of 1863 and 1864. D) Sherman Antitrust Act of 1890.
Which of the following describes Jonathan having a comparative advantage in producing apples?
What will be an ideal response?
The demand for steel has decreased in July without any change in supply. Six months later there still has been no change in steel prices. This is an example of a
A. macroeconomic price. B. price control. C. sticky price. D. price floor.