An opportunity cost of economic growth is
A) essentially zero because economic growth leads to such large gains in the long run.
B) the decrease in production of consumption goods in the present time period.
C) decreased by the creation of capital goods rather than consumption goods.
D) so high that places such as Hong Kong have had to do without it.
B
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Having the single goal of price stability would make the Fed more subject to political pressure
Indicate whether the statement is true or false
The amount that producers receive for a good minus their costs of producing it equals
a. quantity supplied. b. supply price. c. deadweight loss. d. producer surplus.
If the Boston Red Sox were playing the Chicago Cubs in the World Series and fans were willing to pay three times the face-value price for tickets, economists would suggest that a scalping market would appear, and it
A. would make all ticket holders and potential buyers worse off. B. would make all ticket holders and potential buyers better off (or at least no worse off). C. cause the price to fall back to the face value. D. cause the price to fall below the face value.
A nonexcludable public good is characterized by nonrivalry in
A. production and nonexcludability. B. consumption and rivalry in production. C. consumption and excludability. D. consumption and nonexcludability. E. none of the above