The cost of waiting two months for health care to address a debilitating problem in Canada is most accurately described as
A) an explicit cost.
B) an accounting cost.
C) no real cost.
D) an opportunity cost.
D
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Which of the following observations is true?
A. TFC remains the same irrespective of units of output produced. B. TVC remains the same irrespective of units of output produced. C. TVC falls as the unit of output increases. D. AFC increases as output increases further and further.
Which set of goods is most likely to have the larger cross-price elasticity of demand?
a. Coke and Pepsi b. Computer hardware and computer software c. Fish and bicycles d. Gasoline and SUVs
In the wage-setting relation, the nominal wage tends to decrease when
A) the price level increases. B) the unemployment rate decreases. C) unemployment benefits decrease. D) the minimum wage increases. E) all of the above
Which of the following is true about public goods?
A. They are excludable since those who do not pay for them can be excluded from enjoying them. B. They will be over supplied by the private sector. C. They are only produced by government agencies. D. They bestow collective benefits on members of society.