A student has a chance to see Taylor Swift in concert. The student also has a major economics exam in the morning. If the student goes to the concert:
a. she may receive a lower grade on the economics exam
b. the opportunity cost of the concert includes the value of the time that would otherwise have been spent studying.
c. the decision involves a tradeoff.
d. all of the above are correct.
d
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Suppose that while vacationing in Switzerland, you won 9,375 Swiss francs, which is the equivalent of $8,000. When you return to the United States, you deposit the $8,000 into your checking account
If the required reserve ratio is 15 percent, this would increase your bank's A) assets by $1,200. B) required reserves by $8,000. C) excess reserves by $8,000. D) liabilities by $8,000.
Refer to the figure above. If A forms a customs union with C, the quantity of trade creation will be
A) 100 units. B) 70 units. C) 30 units. D) None of the above.
When Ukraine trades with Italy,
a. both countries are likely made better off. b. only Italy benefits since Ukraine can produce all goods at a higher level of quality than Italy. c. only Ukraine benefits since Italy's low wages guarantee that Italian firms will be profitable regardless of trade. d. neither country will benefit since Ukraine is more efficient than Italy in the production of all goods.
Because of ________, the market will provide ________ the socially optimal level of information.
A. the problem of adverse selection; less B. moral hazard; more C. the credibility problem; more D. the free-rider problem; less