The debt ceiling places a legal limit on the size of the national debt

Opportunity cost usually

a. cannot be measured b. applies to labor but not to capital c. is involved in calculating economic profit d. is greater than the cash payment made to a resource e. is less than the cash payment made to a resource

Which of the following transactions does not take place in the markets for factors of production in the circular-flow diagram?

a. a landowner leases land to a farmer b. a farmer hires a teenager to help with harvest c. a construction company rents trucks for its business d. a woman buys corn for dinner