Opportunity cost is
A. the value of the next best alternative which was given up.
B. the same thing as the money price of a good.
C. based on the intrinsic value of the good itself.
D. the combined value of all the alternatives not selected.
Answer: A
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Jorge, a computer programmer, was laid off when his firm went out of business. He began to look for work, but was struck by a car and his hands and one leg were broken. He is unable to use the computer to seek jobs, or to go to interviews for jobs. It is now week 5 of 6 weeks in his cast. According to the current rules, Jorge will probably be classified as:
a. employed b. unemployed c. out of the labor force d. unemployable
Which of the following is true?
A) In the long run, corporate bonds can be expected to yield a higher real rate of return than ownership of stocks. B) The risk of stock market investments can be reduced through the holding of a diverse portfolio of unrelated stocks over long periods of time. C) Stock market investors can reduce their risk if they hold shares of specific stocks for only short periods of time. D) People who invest in the stock market are virtually certain to make money.
Household savings rates:
A. were fairly constant at about 5 %in the United States from 2000 to 2010. B. were roughly 5% in the United States in 2016. C. were 10% in the United States in 2016. D. have been roughly 15 % in the United States for the last 30 years or so.
Gino's Pizza shop hires workers in a competitive market to make pizza. The ingredients required to make each pizza cost $5. Daily output at Gino's Pizza varies with the number of workers hired, as shown in the table: Number of workersPizzas/day00116236354470584696 If pizzas sell for $8 each, what is the value marginal product for the 4th worker?
A. $96 per day B. $128 per day C. $48 per day D. $112 per day