Currency devaluation _______import consumers because______
a. Helps; imports are more expensive
b. Hurts; imports are more expensive
c. Helps; imports are less expensive
d. Hurts; imports are less expensive
b
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If you buy a five-year-old TV from a friend, the amount you paid for the TV is
A) always added to consumption expenditures but not investment. B) always added to investment but not consumption. C) not included in this year's GDP. D) added to investment if the TV is expected to last more than 5 additional years and added to consumption if the TV is expected to last less than 5 additional years. E) included in this year's GDP only if the TV set was manufactured in the United States.
When we choose a particular option, we must give up alternative options. The highest-valued alternative forgone is the ________ of the option chosen
A) opportunity cost B) comparative advantage C) nonmonetary cost D) absolute advantage