Which of the following is not an opportunity cost of attending college?
A. the alternative uses of the time you spend studying
B. the tuition you pay
C. the income you could have earned if you didn't attend college
D. the cost of the food that you consume while you are attending college
Answer: D
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In a prisoner's dilemma game, the Nash equilibrium is better for each player than is the cooperative solution
Indicate whether the statement is true or false
If a good is imported into (small) country H from country F, then the imposition of a tariff In country H
A) raises the price of the good in both countries (the "Law of One Price"). B) raises the price in country H and does not affect its price in country F. C) lowers the price of the good in both countries. D) lowers the price of the good in H and could raise it in F. E) raises the price of the good in H and lowers it in F.
Economics examines the options open to households and business firms, but ignores the options of governments and entire societies
a. True b. False Indicate whether the statement is true or false
If the unemployment rate rises because the number of people not working but searching for work rises, economists would attribute this to the
A. encouraged worker effect. B. fallacy of composition. C. discouraged worker effect. D. none of the options are correct.