Rent is what entrepreneurs earn, but it is called profit to distinguish it from other forms of rent

A) Sam pays $600 for 30 days of guitar classes. He attends an hour-long class every day. If, instead of attending class, he works at a part-time job, he would be paid $5 an hour. Or, he could work at a fast-food outlet and earn $9 per hour

Once he has already paid a nonrefundable fee of $600 to enroll in the class, what is his opportunity cost of attending each hour of class? b) Suppose workers decide to work more and consume less leisure when their hourly wage rate increases. What could explain this behavior?

By definition, currency depreciation occurs when the value of

A) all currencies fall relative to gold. B) one currency falls relative to another currency. C) one currency rises relative to another currency. D) gold falls relative to the value of currencies.