Spending money on a new car instead of a used car when you are on a fixed budget is an example of
A) a bad thing to do because you run out of money.
B) living on the edge.
C) the incursion of an opportunity cost.
D) isolating variables.
Question 2
Which of the following statements best defines hyperinflation?
A) It is a situation when the annual rate of inflation in an economy is between 20 to 50.
B) It is a situation when the annual rate of inflation in an economy exceeds 50.
C) It is a situation when the annual rate of inflation in an economy is between 10 to 20.
D) It is a situation when the annual rate of inflation in an economy is between 0 to 10.
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