The AFL-CIO merger in 1955 revolutionized union practices
Indicate whether the statement is true or false
F
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A trough is the
A) lower turning point of a business cycle when an expansion begins. B) lower turning point of a business cycle when a recession begins. C) upper turning point of a business cycle when an expansion begins. D) upper turning point of a business cycle when a recession begins.
Carlos has been invited to go skiing for the afternoon with his friends. It will cost $40 for a lift ticket. It is likely Carlos will:
A. overvalue the benefit of skiing. B. find it difficult to place a value on what he might do instead of skiing. C. undervalue the opportunity cost of his afternoon. D. All of these are true.
In Figure 35.1, if rents are controlled so that they may go no higher than Rmax, the amount that landlords will want will be 
Figure 35.1
A. 0. B. Q". C. Q'. D. Q*.
The opportunity cost of something is the nominal price paid for the product
Indicate whether the statement is true or false