The opportunity cost of a particular activity
a. is the same for everyone pursuing this activity
b. may include both monetary costs and forgone income
c. always decreases as more of that activity is pursued
d. usually is known with certainty
e. measures the direct benefits of that activity
B
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An excess supply of money implies an excess
a. supply of corporate stock b. demand for bonds c. supply of bonds d. demand for corporate stock e. demand for goods and services
Ceteris paribus, if Canadians decide they want to eat more U.S.-grown soybeans, this causes the ________ U.S. currency to ________.
A. demand for; increase B. supply of; increase C. demand for; decrease D. supply of; decrease
If domestic production of a product causes pollution that imposes an external cost on the country, then
A. exports of the product should be subsidized. B. exports of the product are less than they would be otherwise. C. exports of the product can make the country worse off. D. exports of the product offset the external costs.
One of the key economic questions is, "Who consumes the products?"
Answer the following statement true (T) or false (F)