The opportunity cost of a decision is the
A. value of the best alternative not chosen.
B. cost of making the wrong choice.
C. cost incurred by others who are unhappy with your decision.
D. value of all the alternatives not chosen.
Answer: A
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Over the past seventy-five years, power within the Federal Reserve has shifted from
A) the Federal Reserve Banks to the Board of Governors in Washington. B) the Board of Governors to the Federal Reserve Bank of New York. C) domestic Federal Reserve banks to foreign Federal Reserve banks. D) the Federal Reserve Bank of New York to the Federal Reserve Bank of Dallas.
Because they combine high yield and high risk, junk bonds
A) should never be considered sound investments. B) may increase the overall yield of a portfolio containing stocks without an undue increase in risk. C) should be purchased only by risk lovers. D) None of the above.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
The Apple Watch was designed by Apple in the United States, manufactured in factories in Asia, and sold throughout the world. Many other firms, both American and foreign, began to try to develop alternatives to the Apple Watch. The Apple Watch is an example of American comparative advantage in:
A. consumerism. B. hand production. C. mass production. D. innovation.