The Opportunity Cost of Obtaining More of One Good Is

question 32

Multiple Choice

The opportunity cost of obtaining more of one good is shown on the production possibilities frontier as the

• A)amount of the other good that must be given up.
• B)market price of the additional amount produced.
• C)amount of resources that must be devoted to its production.
• D)number of dollars that must be spent to produce it.

---

Definitions:

Contract Rate

The interest rate stipulated in a contract or agreement, often related to loans, bonds, or other financial instruments.

Market Rate

The prevailing price or interest level determined by the supply and demand dynamics in a competitive marketplace.

Journal Entry

A record of a financial transaction in the accounting system that includes the date, accounts affected, amounts, and description of the transaction.

Callable Bonds

Bonds that can be redeemed by the issuer before their maturity date at a specified price, usually at a premium to the face value.