On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap
The opportunity cost of attending the afternoon class is A) forgoing the nap.
B) missing seeing the movie with your friend.
C) giving up the time to study for the next morning's exam.
D) being unable to engage in all three of the above activities.
A
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Which of the following was primarily responsible for establishing the euro?
A) Lisbon Treaty B) Treaty of Maastricht C) European Finance Act D) Single European Act
If average variable costs are increasing while average total costs are decreasing, then
A. fixed costs must be zero. B. marginal cost must lie between average variable and average total costs. C. marginal cost must equal average variable cost. D. marginal cost must equal average total cost.
The following factors explain the inverse relationship between the price level and the total demand for output, except:
A. A substitution effect B. A real-balances effect C. An interest-rate effect D. A foreign-purchases effect
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle is on budget constraint AC. If the price of a gardenburger is $6, Mr. Lingle's monthly income is
A. $24. B. $60. C. $200. D. $240.