The idea of opportunity cost suggests that the cost of a particular choice should be measured by the
a. price of the good chosen
b. price of the good divided by income
c. value of the best alternative sacrificed
d. amount of the good consumed
e. sum of the costs of all foregone opportunities
C
Economics
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If the interest rate falls, the present value of $100 to be received in one year
A) rises. B) falls. C) is unaffected. D) might rise, fall, or not change.
Economics
In Figure 45.4, when compared to the perfectly competitive equilibrium, the number of workers hired as a result of unionization 
Figure 45.4
A. increases from L' to L*. B. remains at L'. C. remains at L*. D. decreases from L* to L'.
Economics