Suppose you order a slice of pepperoni pizza and a soda at a shopping mall food court. What are examples of the opportunity costs of this decision?
What will be an ideal response?
The opportunity cost of an action is the value of the next best alternative that a person has to give up when making a choice. The opportunity cost of the pizza and soda is what you would give up by consuming these things, such an alternative food choice like a hamburger and a bottle of water could have consumed if you did not consume the pizza and soda.
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If decreased government borrowing drives down real interest rates in the United States,
a. private investment will tend to decline. b. the dollar will depreciate leading to an increase in net exports. c. an inflow of capital will cause the dollar to depreciate. d. All of the above are true.
Discrimination can come from many groups of people, including employers and fellow employees.
Answer the following statement true (T) or false (F)