The payment made to an owner of a resource in excess of the opportunity cost of the resource is
a. economic rent
b. economic profit
c. wages
d. interest
e. opportunity cost
A
Economics
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The euro is
A) the currency of all nations in Europe. B) the rate at which the French central bank makes discount loans. C) a common currency of many European countries. D) the name of the European central bank.
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Describe at least three of the key concepts in economics introduced in Chapter 1 of the textbook that define how an economist views the world
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This graph of negative externalities in production shows that the social costs of a negative externality are always ______ the private costs.
a. the inverse of
b. the same as
c. higher than
d. lower than
Economics
The cost of an extra unit of oil in the United States in terms of coal given up is
A. 25.
B. 50.
C. 2.
D. 1/2.
Economics