Melody decides to spend three hours working overtime rather than going to the park with her friends. She earns $20 per hour for overtime work. Her opportunity cost of working is
a. the $60 she earns working.
b. the $60 minus the enjoyment she would have received from going to the park.
c. the enjoyment she would have received had she gone to the park.
d. nothing, since she would have received less than $60 worth of enjoyment from going to the park.
c
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Here are four positions that Farmer Gomez can be in: (1 ) bad weather for Gomez and good weather for all other farmers; (2 ) bad weather for all farmers except Gomez (who witnesses good weather); (3 ) bad weather for all farmers; (4 ) good weather for all farmers. Assuming the demand for foodstuffs is inelastic, Farmer Gomez would probably rank these four positions, from best for him to worst for
him, the following way: A) 1,2,3,4. B) 2,1,3,4. C) 2,3,4,1. D) 4,3,2,1. E) 3,4,1,2.
How do supply-side economists see reducing taxes as a way to improve productivity?
What will be an ideal response?
Stock in a German corporation can be purchased directly with currency from any other country
a. True b. False Indicate whether the statement is true or false
While not as relevant today, the trade theory that was useful in explaining the pattern of trade when the US dominated the global market is the ______ theory.
Fill in the blank(s) with the appropriate word(s).