If the market interest rate is 5 percent, the opportunity cost of $100 worth of present consumption

a. is $105 today
b. is $105 next year
c. is $5 today
d. is $5 next year
e. cannot be determined unless we know the consumer's rate of time preference


B

Economics

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The crowding out of consumer spending by an increase in taxes will be the greatest when

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Economics

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Economics

The law of demand refers to the: a. decrease in price that results as more units of a product are demanded

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Economics