Define opportunity cost
Opportunity cost of any action is the most valuable alternative forgone by the decision maker. For example, the opportunity cost of self-financing your business is the return on your best alternative investment.
Economics
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The recognition lag for fiscal policy is ________ it is for monetary policy
A) generally longer than B) generally shorter than C) roughly the same as D) There is not a recognition lag for fiscal policy.
Economics
Since the U.S. economy expanded rapidly from 1992 to 2000, it must be true that
A. fiscal contraction overwhelmed monetary expansion. B. monetary expansion overwhelmed fiscal contraction. C. monetary expansion exactly offset fiscal contraction. D. monetary contraction overwhelmed fiscal expansion.
Economics