Another term for the opportunity cost of capital is
A. a normal wage rate.
B. the normal rate of return.
C. a normal profit.
D. the normal interest rate.
Answer: B
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When you duplicate yourself through other people your security is not dependent on your ability to perform.
A. True B. False
If wages and prices become extremely flexible ________
A) there is no trade off between inflation and unemployment B) unemployment can hardly deviate from the natural rate C) it becomes very difficult to differentiate the short-run from the long-run Phillips curve D) all of the above E) none of the above
Refer to Scenario 7.1. For 100 cookies, the average total cost is
A) falling. B) rising. C) neither rising nor falling. D) less than average fixed cost.
A limit on the quantity of a good that may be imported in a given time period is a:
A. Trade restriction limit. B. Tariff. C. Quota. D. Price effect.