Optimal decisions are made based upon the concept of opportunity cost.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Consider the above figure. At a price level of 150
A) total planned production exceeds total planned real expenditures. B) total planned real expenditures exceed total planned real production. C) the price level would rise. D) inventories of unsold goods decline.
Based on the graphic showing the Lorenz Curve, what percentage of total income did the lowest 40 percent of households receive in 2017?
a. 3.8
b. 9.2
c. 13.0
d. 40.0
A budget deficit that needs government action to remove it is a ________ deficit. A ________ deficit will disappear when the economy moves back to full employment.
Fill in the blank(s) with the appropriate word(s).
Assuming well-defined indifference curves, when marginal utility is zero, total utility is at a maximum.
Answer the following statement true (T) or false (F)