Which of these is NOT an example of opportunity cost?
A. Lobster catchers in Point Judith, Rhode Island continued to trap lobsters at the cost of depleting the lobster population.
B. President George W. Bush's administration has pushed for oil exploration in the Arctic National Wildlife Refuge in Alaska at the cost of environmental preservation.
C. Lobster catchers in Port Lincoln, Australia paid a licensing fee for the right to own lobster traps.
D. The "bridge to nowhere" to be built near Anchorage, Alaska comes at the cost of adding to the federal budget deficit.
C. Lobster catchers in Port Lincoln, Australia paid a licensing fee for the right to own lobster traps.
You might also like to view...
According to the Laffer curve, we know with certainty that an increase in the tax rate will
A) cause tax revenue to increase. B) cause tax revenue to decrease. C) have no effect on tax revenue. D) cause tax revenue to increase, decrease, or remain unchanged.
In the absence of technological progress, we know that the level of output per worker in the steady state will
A) increase over time. B) remain constant. C) decrease as a result of decreasing returns to scale. D) increase or decrease, depending on the rate of saving. E) increase or decrease, depending on the rate of depreciation.