An opportunity cost is the highest valued alternative foregone whenever one chooses an alternative
a. True
b. False
Indicate whether the statement is true or false
True
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A result of the Asian Crisis of 1997-1998 was
A. A major increase in the level of U.S. exports to Southeast Asia. B. Political stability in many Southeast Asian countries. C. An increase in the value of the U.S. dollar relative to Southeast Asian currencies. D. An increase in the value of Southeast Asian currencies relative to the U.S. dollar.
Which is not a measure instituted to offset the moral hazard problem created by the FDIC?
A. Require financial transactions essential to the economy to remain in banks B. The creation of the Federal Reserve Bank C. Established strict regulations of banks D. Separating banks from other financial institutions
The policy of comparable worth has been more successful in the public sector than in the private sector
a. True b. False Indicate whether the statement is true or false
Explain the economic idea that "people respond to incentives."
What will be an ideal response?