The Expression, "There's No Such Thing as a Free Lunch

question 52

Multiple Choice

The expression, "There's no such thing as a free lunch," implies that

• A) everyone has to pay for his own lunch.
• B) the person consuming a good must always pay for it.
• C) opportunity costs are incurred when resources are used to produce goods and services.
• D) no one has time for a good lunch anymore.

---

Definitions:

Cotton Cloth

A durable, versatile fabric made from the fibers of the cotton plant, used in a wide range of garments and textiles.

Hand Loom

A manual weaving device operated by hand that is used to create woven fabrics or tapestry.

Federal Reserve

The central banking system of the United States, responsible for monetary policy.

Key Interest Rate

The primary interest rate set by the central bank that is used as the main benchmark for lending rates in the economy and influences overall monetary policy.