Suppose you are deciding whether to spend your tax rebate check on a new iPod or a new digital camera. You are dealing with the concept of
A. the fallacy of composition.
B. equity.
C. comparative advantage.
D. opportunity costs.
Answer: D
Economics
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Labor productivity measures output per hour of work.
Answer the following statement true (T) or false (F)
Economics
If the elasticity of demand for sugar cookies is 2.5, then a 10% change in price will lead to a 5% change in quantity demanded.
Answer the following statement true (T) or false (F)
Economics