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Author Question: The opportunity cost of an action is always equal to: a. the monetary expense incurred as a result ... (Read 77 times)

Lisaclaire

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on: Jun 30, 2018
The opportunity cost of an action is always equal to:
 a. the monetary expense incurred as a result of the action.
 b. the value of any alternative use of the time expended on the action.
  c. the highest valued alternatives sacrificed as a result of the action.
  d. the sum of the benefits received as a result of the action.

Question 2

The total dollar value of purchases in the economy is far larger than GDP primarily because:
 a. GDP ignores taxes.
 b. GDP excludes the value of intermediate goods exchanged.
 c. GDP excludes the output from foreigners working in America.
  d. GDP ignores production in the home


janieazgirl

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


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