Suppose that the opportunity cost of a student's time is greater when he studies than when he works. What mistake is he making and why?
What will be an ideal response?
By arguing that his opportunity cost is higher for studying than when he works the student is saying that work has a more highly valued use for his time than studying. Working has a lower opportunity cost because the value of studying is less than the value or working. He should be working, not studying.
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Futures trading practices in the United States are regulated by
A) the Chicago Board of Trade. B) the Chicago Mercantile Exchange. C) the Commodities Futures Trading Commission. D) the Board of Futures Trading.
When poverty is defined by an relative real income level, what will happen to the poverty rate if the distribution of income is not perfectly equal?
A) The poverty rate will increase forever. B) The poverty rate will eventually be zero. C) The poverty rate will always remain constant. D) The poverty rate will change, but always exist.
If the consumer price index (CPI) this year is 162 and last year it was 170, the inflation rate a. is positive
b. is negative. c. has decreased since last year. d. has increased since last year. e. is the same as last year.
An independently floating exchange rate is adjusted periodically at a fixed pronounced rate.
a. true b. false