An example of a sunk cost would be:

A. the cost of a movie ticket once you've started watching the movie.
B. the value of a lift ticket once you've started skiing.
C. the admission fee you paid to enter a national park.
D. All of these are examples of sunk costs.

D. All of these are examples of sunk costs.

Economics

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Which statement is TRUE about a comparison of economic freedom with political freedom?

A) Economic freedom is more important than political freedom when considering positive economic growth. B) Economic freedom leads to positive economic growth while political freedom leads to negative economic growth. C) Political freedom is more important than economic freedom when considering positive economic growth. D) Economic freedom cannot exist without political freedom.

Economics

The Ricardian equivalence theorem suggests that an increase in the government budget deficit created by a tax cut will

A) decrease real Gross Domestic Product (GDP) in the short run, but increase it in the long run. B) decrease real Gross Domestic Product (GDP) in both the short and long run. C) increase real Gross Domestic Product (GDP) in both the short and long run. D) have no effect on aggregate demand.

Economics