Which of the following would be a private cost to a cigarette smoker?
a. Cost to the employer of the higher health insurance premiums due to the hiring of a smoker.
b. Cost to the employer of the extra effort lost due to the increased missed days of work as a result of smoking.
c. Cost to the city of extra park cleanup due to the presence of cigarette butts.
d. Price of the pack of cigarettes.
e. Cost to the government to pay the hospital expenses of indigent smokers.
d
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Why might the money price for something be higher than the opportunity cost? Why might it be lower? Give an example of each to illustrate your answer
If the economy is in an inflationary gap, and the government attempts to balance the budget, the effect will be to
a. counteract inflation. b. reduce the trade deficit. c. continue inflationary pressures. d. increase unemployment.