Ted can study for his economics exam or go to a concert. He decides to study for his economics exam instead of going to the concert. The concert he will miss is Ted's ________ of studying for the exam
A) opportunity cost
B) explicit cost
C) implicit cost
D) discretionary cost
A
Economics
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Suppose consumers save 3 percent of their incomes. If the government collects 1 dollar in taxes from each taxpayer, private saving will ________ per taxpayer
A) decrease by 97 cents B) increase by $1 C) increase by 97 cents D) decrease by 3 cents
Economics
What is comparative advantage? Give an example
What will be an ideal response?
Economics