If an individual's opportunity cost of commute is $300 per month and his monthly commuting time is 60 hours, his opportunity cost of time is:

A) $10 per hour. B) $5 per hour. C) $30 per hour. D) $60 per hour.

B

Economics

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Suppose the economy currently has some underutilized resources. The Fed engages in expansionary monetary policy. The impact of expansionary monetary policy will be to

A) increase aggregate demand, increase prices and increase real GDP. B) increase short-run aggregate supply, decrease in prices and decrease in real GDP. C) increase short-run aggregate supply, decrease prices and increase real GDP. D) increase aggregate demand, increase prices and decrease real GDP.

Economics

Employers verify the facts of potential employees' resumes to avoid

A) signaling. B) screening. C) cheap talk. D) moral hazard.

Economics