Opportunity wage refers to the
A. Income an individual loses when he or she quits a job.
B. Value of goods and services that could be purchased with a certain individual's income.
C. Highest wage an individual would earn in his or her best alternative job.
D. Income equivalent of a volunteer worker.
Answer: C
You might also like to view...
How do economists view positive statements?
a. affirmative, justifying existing economic policy b. optimistic, putting the best possible interpretation on things c. descriptive, making a claim about how the world is d. prescriptive, making a claim about how the world ought to be
Recall the Application. Unlike the Euro-zone, the United States does not just have a single currency, but also has a ________ that provides transfers to areas in economic distress
A) single central bank B) unified fiscal system C) national trade agreement D) federally funded emergency account