During the summer you have made the decision to attend summer school, which prevents you from working at your usual summer job in which you normally earn $6,000 for the summer. Your tuition cost is $3,000 and books and supplies cost $1,300
In terms of dollars, the opportunity cost of attending summer school is A) $10,300.
B) $6,000.
C) $4,300.
D) $3,300.
A
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In economics, the term "equity" means
A) economic benefits are distributed fairly. B) everyone has an equal standard of living. C) the hardest working individuals consume all they want. D) only elected officials have high standards of living.
As the price of land decreases along its demand curve, the relative price of land
a. increases because the prices of other resources have also decreased b. decreases because the prices of other resources have also decreased c. increases because the prices of other resources have increased d. decreases because the prices of other resources are held constant e. remains constant because the prices of other resources also increase
The practice of making choices using generalizations based on observable characteristics like race, gender, or age is called:
A. discrimination. B. means-testing. C. conditional cash transfers. D. None of these is true.
A direct exchange of fish for corn is an example of:
a. storing value. b. a modern exchange method. c. barter. d. a non-coincidence of wants.