The opportunity cost of an action:
a. is equal to the marginal cost of an action
b. is equal to explicit cost
c. is equal to the cost of the next best alternative forgone
d. is the total cost of an action
c
Economics
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If in-kind transfers were included in income at their market value, what would happen to the number of families below the poverty line?
Economics
Keynes used the term "animal spirits" to refer to
a. policy makers harming the economy in the pursuit of self interest. b. arbitrary changes in attitudes of household and firms. c. mean-spirited economists who believed in the classical dichotomy. d. firms' relentless efforts to maximize profits.
Economics