Which of the following must be true of an attorney who buys a portable computer so that she can work on trains and planes?
a. She is engaging in conspicuous consumption.
b. She gets utility from working.
c. She thinks the opportunity cost of her time is higher than it really is.
d. She thinks the opportunity cost of her time is lower than it really is.
e. She is trying to reduce the opportunity cost of traveling.
E
You might also like to view...
Which of the following is considered an advantage of monetary policy compared to fiscal policy?
A. It is blunter and more politically obvious than fiscal policy B. It does not have any of the time lags of fiscal policy C. Its relative isolation from political pressure D. Its cyclical asymmetry
If an asymmetry of information is removed and laborers' preferences change against employment, this will shift the equilibrium in the labor market to the
A. northwest. B. northeast. C. southwest. D. southeast.