The cost associated with foregoing the opportunity to employ a resource in its best alternative use is called:
A. an avoidable cost.
B. a sunk cost.
C. an opportunity cost.
D. the user cost of capital.
C. an opportunity cost.
Economics
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The aggregate demand curve is a function of ______.
a. real aggregate expenditure and real GDP b. price level and real aggregate expenditure c. price level and real GDP d. real aggregate expenditure and real aggregate demand
Economics
Productivity is a measure of
A. Output per unit of input. B. Input per dollar of output. C. Input per unit of output. D. Output per dollar of input.
Economics