Tim decides to spend four hours playing video games rather than attending his classes. His opportunity cost of playing games is
a. the value of the knowledge he would have received had he attended his classes.
b. the $50 he could have earned if he had worked at his job for those four hours.
c. the value of his time playing video games minus the value of attending classes.
d. nothing, since he valued playing video games more than attending classes.
a
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Explain how the purchases of used goods and of financial assets affect GDP
What will be an ideal response?
In 2006, the United States had
A) a surplus in the current account. B) a balance in the current account. C) a deficit in the current account. D) From 2006 data, it is too difficult to determine whether a surplus or a deficit existed in the current account. E) a positive balance of net financial flows.
If a person owns 2,000 shares in a corporation which has issued 200,000 shares of stock, that person owns ____ of the company and is entitled to ____ of the dividends
a. 1 percent; 1 percent b. 2 percent; 2 percent c. 10 percent; 10 percent d. 20 percent; 20 percent
Based on the graph showing a reduction in the growth of the money supply, if the economy maintains a 3 percent inflation rate for a fairly long time, people’s expectations will adjust and move the economy from ______.
a. point E to point D
b. point E to point F
c. point F to point D
d. point F to point E