All production involves an opportunity cost because
a. to produce costs money
b. costs of production are sky rocketing
c. to produce more of one thing, we must produce more of everything
d. to produce more of one thing, we must produce less of something else
e. when an individual obtains more of a good, he may not be fully satisfied
D
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Which of the following is NOT a monetary policy goal?
A) keeping long-term interest rates moderate B) maintaining stable prices C) keeping a high exchange rate for the dollar D) promoting maximum employment E) All of the above are monetary policy goals.
The Golden Rule of capital accumulation maximizes the steady-state level of
A) output per worker. B) capital per worker. C) consumption per worker. D) investment per worker.
New entrants to the labor force usually account for around ________ percent of the unemployed
A) ten B) twenty C) twenty-five D) thirty
Select the term: To sell a state-run firm to individuals
a. standard of living b. privatize c. economic system d. self-interest e. factor payments