Opportunity wage refers to the
A. Income an individual loses when he or she quits a job.
B. Value of goods and services that could be purchased with a certain individual's income.
C. Highest wage an individual would earn in his or her best alternative job.
D. Income equivalent of a volunteer worker.
Answer: C
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If its exports are greater than its imports, then a country has a:
A. trade deficit. B. trade surplus. C. government budget surplus. D. government budget deficit.
merger will usually be challenged if which of the following is expected to occur as a result of the merger?
A) an increase in consumer surplus B) competition remains after the merger C) a price decrease D) a price increase
One of the primary causes of the banking collapse in the 1930s was ______.
a. artificial inflation of the housing market b. depositor fears resulting in bank runs c. the collapse of Lehman Brothers d. very high reserve requirements set by the FOMC
“In monopolistic ally competitive markets neither allocation nor productive efficiency is realized.” Explain
What will be an ideal response?