Which of the following sayings best represents the concept of opportunity costs?
a. "A glass can be half empty or half full."
b. "When in Rome, do as the Romans do."
c. "There is no such thing as a free lunch."
d. "No taxation without representation."
e. "What's up?"
c
Economics
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Microeconomics analyzes individual parts of the economy rather than broad economic aggregates
a. True b. False
Economics
Refer to the table above. If there is no statistical discrepancy, the sum of all three balance of payments accounts equals
A) -$20 billion. B) +$220 billion. C) +$20 billion. D) zero E) +$200 billion.
Economics
Based on the information in the above table, what is the unemployment rate?
What will be an ideal response?
Economics
A negative supply shock causes stagflation in the short run
a. True b. False
Economics