People:
a. tend to specialize in those activities in which their opportunity costs are minimum
b. tend to specialize in those activities in which their opportunity costs are maximum.
c. never consider opportunity costs while deciding which activities to specialize in.
d. consider only direct costs while deciding which activities to specialize in.
e. do not behave in their own self-interest.
a
Economics
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In the circular flow model, households demand resources such as labor services in the product market
Indicate whether the statement is true or false
Economics
When the government uses taxes and spending to affect national economy, it is engaging in:
a. fiscal policy. b. monetary policy. c. interest rate policy. d. trade policy. e. exchange rate policy.
Economics