On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap. The opportunity cost of attending the
afternoon class is
A) forgoing the nap.
B) missing seeing the movie with your friend.
C) giving up the time to study for the next morning's exam.
D) being unable to engage in all three of the above activities.
Answer: A
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Uniform standards
a. are not relevant to mobile source controls b. refer to standards that remain the same over time c. have been shown to be more costly than a two-tiered standard on motor vehicles d. achieve an allocatively efficient outcome
Which of the following is not an example of a welfare program?
a. Supplemental Security Income (SSI) b. Temporary Assistance for Needy Families (TANF) c. food stamps d. minimum wage laws
India is not a member of the China-ASEAN (Association of South East Asian Nations) free-trade area implemented on January 1, 2010. As a result, India fears that some of its:
a. exports to China will be diverted to ASEAN countries. b. exports to the United States will be diverted to China. c. exports to China and to ASEAN countries will be diverted to trade among members of the China-ASEAN free-trade area. d. imports from ASEAN countries will be diverted to China.
Under a system of marketable pollution permits, the government:
A. chooses a level of pollution. B. distributes permits to polluting firms. C. allows firms to trade permits. D. All of these