The assertion that "there is no free lunch" means that
A. there are always trade-offs between economic goals.
B. marginal analysis is used in economic reasoning.
C. rational choices do not involve excessive costs.
D. all production has an opportunity cost.
Answer: D
Economics
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Suppose a permanent increase in demand for the Argentinean peso causes a chronic shortage of this currency in the foreign exchange market. The Argentinean government should then:
a. request other countries to revalue their currency. b. devalue the peso. c. allow the peso to appreciate. d. restricts exports. e. restrict imports.
Economics
An expected value is the ________ average of ________ outcomes.
A) unweighted; the most likely B) weighted; all possible C) unweighted; all possible D) weighted; the most likely
Economics