The opportunity cost of a particular activity
a. must be the same for everyone
b. is the value of all alternative activities that are forgone
c. has a maximum value equal to the minimum wage
d. varies from person to person
e. can usually be known with certainty
D
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The payment made by a bank to a depositor to use her money for lending to those in need of funds is referred to as the ________
A) dividend B) interest C) principal D) stock
Consider an identical basket of goods in both the U.S. and Taiwan. For a given nominal exchange rate, in which case is it certain that the U.S. real exchange rate with Taiwan falls?
a. the price of the basket of goods rises in the U.S. and Taiwan. b. the price of the basket of goods rises in the U.S. and falls in Taiwan. c. the price of the basket of goods falls in the U.S. and rises in Taiwan. d. the price of the basket of goods falls in both the U.S. and Taiwan.
When real interest rates in the United States rise relative to real interest rates in Japan, what is the impact on the U.S. price level? Explain your answer using AD-SRAS analysis
The National Environmental Protection Act (NEPA) of 1969
a. calls for Environmental Impact Statements (EIS) on major legislative proposals b. coordinates environmental tasks among federal agencies c. guides all environmental policy formulation in the United States d. all of the above e. (c) and (d) only