Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 of a pogo stick B) 1/2 of a unicycle C) 3 pogo sticks D) 1.3 pogo sticks
C
You might also like to view...
When the policy rate hits its lower bound and inflation keeps falling, this portion of the aggregate demand curve is
A) downward sloping. B) upward sloping. C) flat. D) undetermined.
The present day value of all net margins earned from a relationship with a customer is called ____________.
a. Customer Lifetime Value b. Value Profit Index c. Opportunity cost d. Customer Value
The large budget deficits of 2003 and 2006 meant that the federal government was borrowing upwards of $1.7 trillion over the four-year period. If that borrowing limits the ability of the private sector to get financial capital for its purposes, economists would call this
A. forcing aside. B. forcing in. C. crowding in. D. crowding out.
The aggregate demand curve is downward sloping because:
A. an increase in the price level will cause an increase in spending. B. at lower price levels, real wealth decreases, causing a decrease in the quantities of goods and services demanded. C. at lower price levels, interest rates decrease, causing a decrease in the quantities of goods and services demanded. D. at lower price levels, exports increase, causing an increase in real GDP.