The opportunity cost of going to an outdoor music festival is
A) the value of the time spent at the festival.
B) zero because there are no overhead costs for an outdoor festival.
C) equal to the highest value of an alternative use of the time and money spent on the festival.
D) the enjoyment you receive from going to the festival.
E) the cost of the festival ticket only.
C
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Since 1970 the United States' income distribution has become more equal
a. True b. False Indicate whether the statement is true or false
One characteristic of automatic stabilizers is that
A. they automatically produce surpluses during recessions and deficits during inflation. B. they reduce the size of the public debt during times of recession. C. they have no effect on the distribution of income. D. they require no new legislative action by the government to have an effect.