A payment for a resource above its opportunity cost is known as:
a. an interest payment.
b. a sunk cost

Which of the following is an example of a principal-agent relationship?

A) The relationship between two colleagues B) The relationship between a teacher and his student C) The relationship between an employer and a worker D) The relationship between two nations

If a government provides substantial benefits to the unemployed while they look for work, it reduces the ______ of being unemployed.

Fill in the blank(s) with the appropriate word(s).