Which of the following is generally considered a desirable outcome of fiscal policy?
A. Greater deficits.
B. A higher price level.
C. Higher unemployment rates.
D. More jobs.
Answer: D
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Your opportunity cost of attending a lecture on the number of brain cells lost by binge-watching episodes of Here Comes Honey Boo Boo is
A) zero, since you already know that binge-watching will kill all of your brain cells. B) the price of the ticket for the lecture. C) the value of attending a meditation class, which is your next-best alternative. D) the total value of all other options you could have chosen instead of going to the lecture.
What is the substitution effect?
What will be an ideal response?
List some examples of the scarcity that you face
What will be an ideal response?
In which types of business do owners have unlimited personal liability and in which do owners have limited personal liability?
What will be an ideal response?