If you are using a credit card prudently, you should
A) pay only the interest on any outstanding balance.
B) make only the minimum payment each month.
C) gradually expand the amount borrowed to the card's credit limit.
D) pay the balance in full each month.
D) pay the balance in full each month.
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Indicate whether the statement is true or false
Another term for the opportunity cost of capital is
A) the normal interest rate. B) the normal rate of return. C) a normal profit. D) a normal wage rate.
When Thurston catches 10 fish a day, he can gather a maximum of 40 coconuts, and when he catches 20 fish a day, he can gather a maximum of 30 coconuts. If Thurston's opportunity cost of producing each good increases as he produces more of it, and he decides to catch 30 fish a day, then the maximum number of coconuts he can gather must be:
A. equal to 20. B. less than 20. C. greater than 20. D. greater than 10.
Saving endangered species
A. must involve the loss of another species. B. may involve a trade-off in terms of the loss of other economic activities. C. benefits all people in society without any trade-off. D. requires the government to list those species as common property.