The trade-off between the present and future consumption is measured by
A. the foregone present consumption.
B. the difference between the money price of future goods and the money cost of producing them.
C. the money cost of both the present and future consumption.
D. the difference between the money price of present goods and the money cost of producing them.
Answer: A
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Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
A good example of a price floor is:
a. rent controls on apartments in major cities. b. general admission tickets to concerts. c. the minimum wage law. d. food stamp regulations. e. rock concert tickets.
In perfect competition, no individual producer can significantly affect the market price because
a. the market is regulated by the government b. each producer is ignorant of the market price c. each producer provides a very small portion of the total market supply d. strictly enforced collusion prevents any producer from acting independently e. each firm's product is so different that there is no market price
The unemployment that occurs as jobs are eliminated because of changing technology is known as
A. frictional. B. voluntary. C. structural. D. fundamental. E. cyclical.