Carl is considering attending a concert with a ticket price of $35 . He estimates that the cost of driving to the concert and parking there will total an additional $20 . In order to attend the concert, Carl will have to take time off from his part-time job. He estimates that he will lose 5 hours at work, at a wage of $6 per hour. Carl's opportunity cost of attending the concert equals
a. $35
b. $55
c. $30
d. $65
e. $85
E
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A) An increase in the discount rate B) An increase in the federal funds rate C) An increase in reserve requirements D) A lowering of tax rates E) A lowering of government spending
If nominal GDP is $230 for a period and real GDP is $200 for the same period, what is the GDP deflator for this period?
What will be an ideal response?
Rivalry among firms and individuals for sales to consumers
a. is the natural regulator that makes a market system work. b. is known as competition. c. regulates the allocation of resources in a market system. d. All of these.
One difficulty in achieving international coordination is that
A) central banks often must compromise for the good of both nations. B) one nation is always made worse off. C) monetary union is required. D) sterilization is often politically unpopular.