Opportunity costs are
A) objective because they can always be put in monetary terms.
B) objective because specific things are given up when making a choice.
C) subjective because each person decides the value of the foregone alternative.
D) subjective because it is impossible to put a monetary value on foregone alternatives.
C) subjective because each person decides the value of the foregone alternative.
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A technique that can be employed to make a portfolio less risky than any of its individual securities is
A. plowback. B. diversification. C. programmed trading. D. speculation.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower