The money cost of a particular good will approximate its opportunity cost if
A. there are serious distortions in the market.
B. the market functions well.
C. there is much specialization in the market.
D. nations are exploiting the law of comparative advantage.
Answer: B
Economics
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Suppose that over the next few years, the demand for dancing to country and western music decreases. Hence, at country and western dance clubs, the equilibrium price of admission ________, and the equilibrium quantity of dancing ________
A) rises; increases B) falls; increases C) rises; decreases D) falls; decreases E) does not change; decreases
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What is fiscal federalism?
What will be an ideal response?
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