If an economy increases the amount of roundabout production today,
a. more consumer goods can be produced in the present
b. fewer consumer goods can be produced in the future
c. more capital accumulates
d. less capital accumulates
e. fewer capital goods can be produced in the future
C
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A firm will invest in a project if
A) the interest rate exceeds the opportunity cost of the project. B) the firm's level of capital is at the desired level. C) the firm's level of capital is higher than the desired level. D) the rate of return of the project is greater than the opportunity cost of the investment.
A union can achieve higher wages without accepting lower levels of employment of members by
A) striking. B) increasing the productivity of its members. C) increasing the amounts of imports. D) increasing the difficulty of its apprenticeship program.
The opportunity cost of a college education includes wages lost while enrolled in school
a. True b. False Indicate whether the statement is true or false
When deciding what to use as money, one characteristic to look for is its:
A. exchange value. B. convenience. C. shape. D. intrinsic value.