With a human capital investment (such as the investment in going to college), the most important cost tends to be
A. the opportunity cost of not working.
B. taxes.
C. books and equipment.
D. foregone leisure.
Answer: A
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The LM curve will be vertical and fiscal policy ineffective when
A) the demand for money is unaffected by changes in the interest rate. B) the demand for money is unaffected by changes in income. C) investment is unaffected by changes in the interest rate. D) investment is unaffected by changes in income.
Economists use the terms neutral good and normal good interchangeably
Indicate whether the statement is true or false
When economists say that the demand for a product has decreased, they mean that:
a. The product has become particularly scarce for some reason b. The demand curve has shifted to the left c. Consumers are now willing and able to purchase more of this product at each possible price d. The product price has increased and as a consequence consumers are buying less of the product
US recession lasting from December 2007-June 2009
What will be an ideal response?