Opportunity cost may be defined as the
A. Goods or services that are forgone in order to obtain something else.
B. Dollar cost of producing a particular product.
C. Dollar prices paid for final goods and services.
D. Difference between wholesale and retail prices.
Answer: A
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If the Slamdunkers can sell 5000 season tickets for $100 and 6000 season tickets only by lowering the price to $80, the demand for season tickets between the two prices is
A) elastic. B) inelastic. C) marginal. D) unit elastic.
The main objective of financial liberalization is ________
A) to encourage financial innovation B) to improve the allocation of financial capital C) to discourage volatility in financial markets D) to reduce the likelihood of a credit boom
What is the lemons problem? How do firms try to address this problem?
What will be an ideal response?
If crowding out exists, contractionary fiscal policy will cause the aggregate demand curve to shift in by more than indicated by the government spending multiplier
a. True b. False Indicate whether the statement is true or false