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Author Question: The opportunity cost of a two-week vacation in Hawaii for an Arizona resident includes: a. the cost ... (Read 97 times)

D2AR0N

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on: Jun 30, 2018
The opportunity cost of a two-week vacation in Hawaii for an Arizona resident includes:
 a. the cost of the beach resort hotel accommodations.
 b. the airfare to and from Honolulu International Airport.
 c. the time that could have been used to travel somewhere else.
  d. all of the above.

Question 2

If nominal GDP rises from 5 billion to 6 billion, when the GDP deflator goes from 100 to 110, real GDP
 a. rises.
 b. falls.
 c. stays the same.
 d. could either be rising or falling.


macmac

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

d

Answer to Question 2

a


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