The current income you would sacrifice to start your own lawn-cutting business is part of the
A) cost of doing business. B) present value of your initial investment.
C) opportunity cost of invested funds. D) opportunity cost of starting a business.
D
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Does a 21 year old who inherited millions of dollars' worth of corporate stock and who never works supply anyone with productive services?
A) No, by definition. B) Only if her wealth is invested in capital equipment that adds to economic growth. C) Only if others are willing to pay to watch her enjoy life. D) Yes, if she supplies the services of the resources she owns.
Overproduction of farm products in the European Community has been primarily the result of:
A. Low U.S. tariffs on imports of farm products B. Subsidies to farmers in the European Community C. Increasing world trade in agricultural commodities D. Quotas imposed by the European Community on imported products