Which of the following is an example of opportunity cost not measured by money cost?
A. The time spent eating a business lunch at a restaurant
B. The time spent preparing a meal eaten at home
C. The time spent studying to obtain an “A” in economics
D. The time spent repairing a car in one’s own garage
E. All of the responses are correct.
Answer: E
Economics
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In the long run, sustained inflation is due to
A. a one-time increase in money growth. B. a continuous increase in aggregate demand. C. a continuous increase in the money growth rate. D. the rising price of oil.
Economics
Refer to Scenario 16.2. What is Sally's marginal rate of substitution of tee shirts for candy at the current distribution?
A) 7/2. B) 2 C) 1/2. D) It is impossible to determine without the prices of each commodity.
Economics