What must be given up to obtain an item is called
a. out-of-pocket cost.
b. comparative worth.
c. opportunity cost.
d. absolute value.
c
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The employment-to-population ratio is
A) 67 percent. B) 64 percent. C) 50 percent. D) 62 percent.
According to economist Emmanuel Saez, between 1993 and 2010, the incomes of the richest 1 percent grew by ________, and the other 99 percent grew by ________ on average.
A. 5.8 percent; 64 percent B. 58 percent; 6.4 percent C. 58 percent; 64 percent D. 5.8 percent; 6.4 percent
In imperfectly competitive industries, producers' agreements to restrict output tend to be unstable because each firm has an incentive to:
A. establish competitive price and output levels. B. lower both its price and its output. C. produce more than its output quota. D. raise prices above the cooperative price.
M2 includes
A. just cash held by the public. B. currency, checkable accounts, traveler's checks, small CDs, and money market accounts. C. currency plus checkable accounts and traveler's checks. D. cash held by banks and by the public plus deposits at the Federal Reserve.