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The night before a midterm exam, you decide to go to the movies instead of studying for the exam. You score 60 percent on your exam. If you had studied the night before, youʹd have scored 70 percent. What was the opportunity cost of your evening at the movies?
Substitutes
Goods, such as tacos and pizza, that relate in such a way that an increase in the price of one shifts the demand for the other rightward.
Honey
A sweet, viscous food substance made by bees from the nectar of flowers.
Expectation
The anticipation or belief regarding the future performance of the economy, markets, or individual financial assets.
CDs
Certificates of Deposit, a financial product offered by banks that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period.
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