“To choose is to lose” is another way to describe which concept in economics?
a. scarcity of resources
b. tangible benefits
c. marginal thinking
d. opportunity cost
d. opportunity cost
You might also like to view...
The largest expenditure component in the U.S. is investment expenditures
Indicate whether the statement is true or false
A bank run is
A) a large-scale, panicky withdrawal of deposits from a bank. B) the transfer of funds from one bank to another. C) a situation when a bank borrows from the Fed's discount window. D) a situation in which a bank borrows at the Federal funds rate.
Compared to a proprietorship, an advantage of a partnership is
A) that profits are not taxed twice. B) double taxation. C) the ability to take advantage of greater specialization. D) the limited liability of the partners.
When inflation suddenly increases, ARMs
A. Protect borrowers against the effects of inflation. B. Maintain a stable real interest rate. C. Protect the purchasing power of workers' wages. D. Protect against rising real interest rates.