People who use drive-through windows at restaurants and eat while on the road tend to
a. have a low opportunity cost of time
b. have a high opportunity cost of time
c. not maximize their utility
d. act irrationally
e. value their money more than their time
B
Economics
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Fractional reserve banking originated
A) when the United States Congress passed a law regarding the required reserve ratio. B) when goldsmiths realized they could issue warehouse receipts beyond gold on deposits. C) with the establishment of the Federal Reserve System. D) in the United States with the Clayton Act.
Economics
If you operated a small bakery, which of the following would be a variable cost in the short run?
A. Baking ovens. B. Interest on business loans. C. Annual lease payment for use of the building. D. Baking supplies (flour, salt, etc.).
Economics