The opportunity cost of something is
A) what you sacrifice to get the good. B) the price you pay for the good.
C) what you are willing to pay for the good. D) a measure of the scarcity of the good.
A
Economics
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Which of the following will lead to GDP underestimating our true output? a. Mary begins a catering business
b. James begins drawing Social Security benefits upon his retirement. c. David accepts a position as a software specialist at Microsoft. d. Gretchen begins an accounting and bookkeeping service in her home, accepting cash as payment, which is not reported to tax authorities.
Economics
Joanne states: "The best way to increase the wages of workers is to increase worker productivity." Is Joanne correct? Why or why not?
Economics