An individual pays $100 every month as rent for an apartment, and his monthly opportunity cost of commuting from the apartment to his place of work is $40. Which of the following statements is then true?
A) The direct cost of renting the apartment is $140.
B) The indirect cost of renting the apartment is $140.
C) The direct cost of renting the apartment is $40, whereas the indirect cost of renting the apartment is $100.
D) The direct cost of renting the apartment is $100, whereas the indirect cost of renting the apartment is $40.
D
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Amy can produce either 5000 pounds of cheese or 20 cars per year. Mike can produce either 5000 pounds of cheese or 10 cars per year. Amy's opportunity cost of producing one pound of cheese is ________ car(s).
A. 250 B. 20 C. 1/20 D. 1/250
Comparing the California test scores to test scores in Massachusetts is appropriate for external validity if
A) Massachusetts also allowed beach walking to be an appropriate P.E. activity. B) the two income distributions were very similar. C) the student-to-teacher ratio did not differ by more than five on average. D) the institutional settings in California and Massachusetts, such as organization in classroom instruction and curriculum, were similar in the two states.
Holding other things constant, an appreciation of the US Dollar relative to the Chinese Yuan causes the demand for the Yuan to _____________ and the supply for Yuan to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
Civil law provides business with more certainty because it is based on precedent
a. True b. False