What are opportunity costs? How do explicit and implicit costs relate to opportunity costs?
The opportunity cost of an item refers to all those things that must be forgone to acquire that item. Both explicit and implicit costs are included as opportunity costs.
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In the late 1970s, savings and loans institutions were in financial trouble because they
A) had to pay low interest rates to attract depositors, but were earning low interest rates from past investments. B) had to pay low interest rates to attract depositors, but were earning high interest rates from past investments. C) had to pay high interest rates to attract depositors, but were earning high interest rates from past investments. D) had to pay high interest rates to attract depositors, but were earning low interest rates from past investments.
Keynes was concerned about an implication of his consumption theory: that as an economy becomes more prosperous, its saving rate becomes too ________ to sustain that prosperity. Such a long-term trend in the U.S
saving rate is ________ in the time-series data. A) large, found B) large, not found C) small, found D) small, not found
Values can be classified in several ways according to the book, which one of these was not listed
a. Absolute and relative b. Intrinsic and extrinsic c. Traditional and prophetic d. Instrumental and terminal
The questions below are based on the table below. Fill in the blank spaces first. 
How many will be employed if the labor market is perfect with a going wage of $18 and the product market is imperfect?
What will be an ideal response?