The opportunity cost of an action is
A) everything that makes an action possible.
B) the monetary payments that make an action possible.
C) the sum of the human efforts that contribute to an action.
D) the value of the next-best alternative that must be sacrificed to take the action.
D
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Which of the following is illegal under the Sherman Act? I. A competitor agrees with another competitor on the price at which the product will be sold. II
A manufacturer refuses to supply a retailer who does not accept the manufacturer's guidance on the price. A) only I B) only II C) both I and II D) neither I nor II
Which of the following groups believes that stabilization policy can have some short-run success, but cannot sustain that success into the long run?
a. classical school b. Keynesian school c. neo-Keynesian school d. rational expectations school e. supply-side school