Opportunity cost
A) can only be measured as a paid cost.
B) is always the value of the next best forgone opportunity.
C) does not exist since there are no receipts.
D) is always the lowest valued alternative.
B
Economics
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Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were employed?
a. 1.5 million b. 28.5 million c. 30 million d. 47.5 million
Economics
One principal advantage of the corporations is that owners:
A. are sole proprietors. B. are not taxed for income received. C. have limited liability. D. always control the company.
Economics