Your opportunity cost of attending a lecture on the number of brain cells lost by binge-watching episodes of Here Comes Honey Boo Boo is
A) zero, since you already know that binge-watching will kill all of your brain cells.
B) the price of the ticket for the lecture.
C) the value of attending a meditation class, which is your next-best alternative.
D) the total value of all other options you could have chosen instead of going to the lecture.
C
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If the demand for baseballs falls and all other relevant factors remain unchanged, then,
a. the supply for baseballs will fall. b. the quantity supplied of baseballs will fall. c. the supply for baseballs will rise. d. the quantity supplied of baseballs will rise.
Gross Domestic Product equals
A) Y = C + I + G + NX. B) Y = C - I + G + NX. C) Y = C + I + G - NX. D) Y = C + I - G + NX. E) Y = C - I - G - NX.
The prisoners' dilemma game
A) shows that prisoners are better off if they cooperate. B) shows it is easy to cooperate. C) has an equilibrium in which both prisoners are made as well off as possible. D) would have the same outcome even if the prisoners can communicate and cooperate. E) has an equilibrium in which one prisoner is made as well off as possible and the other prisoner is made as worse off as possible.
Worker discrimination occurs when
A) workers refuse to perform risky tasks. B) employers pay different employees different wages based on race. C) workers refuse to work with persons of a different race. D) customers refuse to buy products produced by a racially diverse workforce.