The straight-line budget constraint indicated ____________ opportunity cost?
a. decreasing
b. average
c. increasing
d. constant
d. constant
You might also like to view...
One difference between stocks and bonds is that
A) stocks do not involve a promise to repay a purchaser of the stock, while bonds represent a promise to repay the purchase price of the bond. B) stocks represent ownership in companies, while bonds represent ownership in banks. C) stocks are financial securities, while bonds are labor market securities. D) stocks are usually issued in electronic form, while bonds are usually issued in paper form.
The CPI is based on an:
A. average of the goods and services purchased by "urban consumers." B. average of the goods and services purchased by "rural consumers." C. average of the two baskets of goods and services purchased both by "urban" and by "rural" consumers. D. aggregated average meant to reflect the statistical average consumption.
The expression "There's no such thing as a free lunch" means
a. if one person gains, someone else must lose. b. each person must pay for exactly what he or she receives. c. the use of resources to produce a good has an opportunity cost because of scarcity. d. you cannot have a free lunch at the expense of someone else.
By the start of the 21st century, the developed economies with the largest national debt relative to GDP were
a) US and Spain b) Italy and Japan c) France and Germany d) Australia and New Zealand e) Norway and Ireland