The opportunity cost of holding money is
a. the dollar cost necessary to change other assets into money
b. the time cost of accessing funds
c. the value of the goods and services a person is able to obtain with the money
d. the interest a person could have earned by holding other forms of wealth instead
e. zero, because opportunity costs only apply to real assets, goods and services
D
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Discuss the federal budget history of the United States since 1970. Make sure to note specifically the budget position of the United States during the last of the 1990s and compare it to the situation in 2014
What will be an ideal response?
If Sam has $80.00 each week to spend on tacos and magazines, and their respective prices are $.50 per taco and $4.00 per magazine, which of the following equations represents his budget line?
A) $80.00 = $.50/Qt + $4.00/Qm B) $80.00 = Qt/Qm + $.50 /$4.00 C) $80.00 = $.50(Qm) + $4.00(Qt) D) $80.00 = $.50(Qt) + $4.00(Qm)
Firms are ________ with an economic profit of zero, they will ________ in the industry since they ________ be better off in another industry
A) satisfied, stay, won't B) unsatisfied, leave, will C) satisfied, leave, will D) unsatisfied, stay, won't
Which of the following conditions is not necessary for a firm to be able to engage in price discrimination?
I. The firm must be able to produce to the point at which price equals marginal revenue. II. The firm must easily be able to identify consumers with different demand elasticities. III. The firm must be able to prevent resale of the item it produces and sells. A) I only B) III only C) Both I and II only D) Both II and III only