Lisa decided to give up being on the soccer team for piano lessons. Her opportunity cost of pursuing piano lessons is
A) zero, as long as someone other than Lisa pays for the lessons.
B) zero, as long as someone other than Lisa paid for her soccer fees and equipment.
C) the satisfaction Lisa had enjoyed by being on the soccer team.
D) the satisfaction Lisa enjoys by studying the piano.
E) both A and B above.
C
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Bank reserves are increased by
A) Treasury currency outstanding. B) Treasury cash holdings. C) Federal Reserve capital. D) currency in circulation.
What is a downside of trade protection?
a. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of driving the manufacturing completely out of the country. b. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of driving the manufacturing completely out of the country. c. It can give U.S. interests and domestic manufacturing too much of an advantage over items manufactured elsewhere, having the unintended effect of bringing more manufacturing into the country than can be handled. d. Instead of protecting U.S. interests and giving domestic manufacturing an advantage over items manufactured elsewhere, it can have the unintended effect of bringing more manufacturing into the country than can be handled.
A decrease in the interest rate, other things being equal, causes a (an):
a. leftward shift of the demand curve for money. b. rightward shift of the demand curve for money. c. downward movement along the demand curve for money. d. upward movement along the demand curve for money.
The demand curve faced by a perfectly competitive industry
A. slopes downward. B. is horizontal. C. slopes upward. D. has no slope.