Sue Is Considering Leaving Her Current Position to Open a Coffee

question 75

Multiple Choice

Sue is considering leaving her current position to open a coffee shop.Sue's current salary is $83,000.Annual coffee shop revenue and costs are estimated at $260,000 and $210,000, respectively._____ is the opportunity cost of opening the coffee shop.

• A)$83,000
• B)$210,000
• C)$343,000
• D)$40,000

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Definitions:

Persistent Unemployment

A situation where unemployment remains high or continues over a long period, often due to structural factors in the economy.

Wage Discrimination

The practice of paying different wages to employees who perform similar jobs, based on non-job-related factors like gender, race, or age.

Efficiency Wage

A wage set above the market equilibrium to increase productivity by encouraging higher effort or reducing turnover among employees.

Positive Amount of Unemployment

A situation where there is a nonzero level of unemployment in the economy, often considered normal due to frictions and transitions in the job market.