Multiple Choice
Do all valuable items have price tags?
A) No, because some valuable items have no opportunity cost.
B) Yes, because everything has its price.
C) Yes, because price is the measure of opportunity cost.
D) No, some have no explicit price on them.
E) Yes, because only items that can be sold in markets have value.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 3-2
Q2: Figure 3-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 3-2
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Q4: The law of comparative advantage implies that
Q5: A production possibilities curve always slopes downward
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Q8: The workers in Adam Smith's famous pin
Q9: If good "A" is represented on the
Q10: Efficiency is defined as minimizing waste.
Q11: Because of scarcity, every economic decision involves<br>A)a