Suppose That You Own a House

question 126

Multiple Choice

Suppose that you own a house. What is the opportunity cost of living in the house?

• A) The opportunity cost is the rent you could have received from a tenant if you didn't live there.
• B) There is no opportunity cost because you own the house.
• C) The opportunity cost is the cost of your monthly mortgage payment plus bills.
• D) There is no opportunity cost unless you could set up a business in the house.

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Definitions:

Learned Helplessness-induced Depression

A state of depression that arises from experiencing uncontrollable events, leading to a belief in one's inability to affect outcomes.

Internal

Pertains to something occurring or situated within a part or inside something else, often referring to processes or features not immediately apparent from the outside.

Global

Pertaining to the entire world or relating to a comprehensive and international scale.

Stable Factors

Elements or conditions in an environment or system that remain constant over time, contributing to consistency and predictability.