Scarcity forces us to choose, and choices are costly because we must give up other opportunities that we value
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The opportunity cost of something you decide to get is
A) all the possible alternatives that you give up to get it. B) the highest valued alternative you give up to get it. C) the value of the item minus the cost you paid for it. D) the amount of money you pay to get it.
Economics
Under a flexible exchange rate system, a decrease in the value of a domestic currency in terms of foreign currencies is referred to as
A) an appreciation. B) a depreciation. C) a devaluation. D) a revaluation.
Economics