Opportunity cost is the highest possible price you can receive when you sell an object
a. True
b. False
Indicate whether the statement is true or false
False
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For a nation's real GDP per capita to rise during a year,
A. population must increase more rapidly than real GDP. B. real GDP must increase more rapidly than population. C. investment spending must increase. D. consumption spending must increase.
If you received negative marginal utility from consuming the 4th slice of pizza, then your total utility from 4 slices of pizza must be less than your total utility from 3 slices of pizza
Indicate whether the statement is true or false
________ highlights the importance of fiscal policy as a determinant of good macroeconomic performance
A) The real business cycle model B) The traditional Keynesian model C) The new Keynesian model D) Rational expectations
The policy ineffectiveness proposition of the new classical model suggests that ________
A) unanticipated policy has no effect on the business cycle B) anticipated policy can have an effect on the business cycle C) anticipated policy has no effect on the business cycle D) legislative policy initiatives have little effect if the executive branch of government is in the hands of another political party