Opportunity cost includes
a. monetary costs only
b. non-monetary costs only.
c. both monetary and non-monetary costs.
d. neither monetary nor non-monetary costs.
c
Economics
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Which of the following does NOT occur when the economy is operating at the equilibrium level of GDP?
A) Total planned expenditures equal real GDP. B) Planned investment equals actual investment. C) Inventory investment equals zero. D) Real GDP tends to rise over time.
Economics
When you toss your spare quarters into a jar so you can use them later at the laundromat, you are using money in its function as a
A) medium of exchange. B) unit of account. C) store of value. D) record keeping device.
Economics