The opportunity cost of an economic action is
a. the value of the next best alternative that must be sacrificed
b. an issue in normative economic theory
c. the expense for the resources used plus the firm's profit
d. the out-of-pocket cost
e. the option to pay a reduced fee for the action
A
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Of the three agencies that have been created to promote residential housing, the only one that is an entity of the U.S. government is
A) Fannie Mae. B) Ginnie Mae. C) Freddie Mac. D) Sallie Mae.
The "law of demand" indicates that if SIUC increases the price of tuition, all other things remaining the same Question 29 options:
A. the quantity of classes demanded will decrease at SIUC B. the demand for classes will decrease at SIUC C. the demand for classes will increase at SIUC D. the quantity of classes demanded will increase at SIUC