People (and all resources):
a. tend to specialize in those activities in which their opportunity costs are minimized.
b. tend to specialize in those activities in which their opportunity costs are maximized.
c. never consider opportunity costs before specializing in a particular activity.
d. consider only direct costs while choosing to specialize in a particular activity.
e. do not act in their own self-interest but specialize in those activities which benefit others.
a
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Which major actor is at the center of the foreign exchange market?
A) corporations B) central banks C) commercial banks D) non-bank financial institutions E) individual firms
"Preannounced, stable policies to achieve a low and constant money supply growth and a balanced federal budget are therefore the best way to lower the inflation rate." This statement best illustrates the:
a. Keynesian theory. b. rational expectations theory. c. incomes policy. d. supply-side theory.