Assume that Kelly's various possible activities are mutually exclusive. The opportunity cost from choosing one activity equals the
a. summed value of all her alternative activities
b. summed value of all her alternative activities minus the value of the chosen activity
c. value of the next most valuable alternative activity
d. value of the next most valuable alternative activity minus the value of the chosen activity
e. summed value of all her alternative activities minus the value of the next most valuable alternative activity
C
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If investment increases by $100, then the aggregate expenditure model concludes that equilibrium expenditure
A) increases by $100. B) increases by less than $100. C) decreases by $100. D) remains unchanged. E) increases by more than $100.
Refer to the information provided in Table 22.1 below to answer the question(s) that follow. Table 22.1
Refer to Table 22.1. The labor force equals
A. 14,000 people. B. 17,000 people. C. 18,000 people. D. 21,000 people.