You Can Spend $100 on Either a New Economics Textbook

question 131

Multiple Choice

You can spend $100 on either a new economics textbook or a new CD player. If you choose to buy the new economics textbook, the opportunity cost is:

• A)$100.
• B)your enjoyment of the new CD player.
• C)both the $100 and your enjoyment of the new CD player.
• D)impossible to determine.

---

Definitions:

Hierarchical

Describes a system or organization in which people or groups are ranked one above the other according to status or authority.

Labor Force

The total number of people who are eligible to work and are either employed or actively seeking employment.

Part-Time Workers

Individuals employed in positions that require less than the standard full-time hours, often offering flexibility but limited benefits.

Hours a Week

A measure of time spent on activities or work calculated on a weekly basis.