"Opportunity cost" is
A) the monetary cost of one's actions.
B) the objective cost of one's actions.
C) the regret one feels when making a sacrifice.
D) the value one places on the item, project, or plan he has chosen to pursue.
E) none of the above.
E
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Why do rent ceilings lead to shortages and black markets?
What will be an ideal response?
You buy a bond for $1,000 from the federal government, which guarantees that you will receive $70 a year forever. Thus, 7 percent was the market rate of interest when you bought the bond. Suppose that immediately after you buy the bond, the market rate of interest goes to 10 percent. The market value of your bond
a. could be more or less than $1,000 b. will be less than $1,000 c. will be more than $1,000 d. will remain unchanged e. will be $1,000