A Relative Price Is

question 379

Multiple Choice

A relative price is

• A) the number of dollars that must be given up in exchange for the good.
• B) also called the money price.
• C) not an opportunity cost.
• D) the ratio of one price to another price.

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Definitions:

Liabilities

Financial obligations or debts that an individual or organization is responsible for.

Act of Commission

An action taken by a person or group intentionally that causes something to occur.

Crimes

Acts or omissions that violate laws which are enforceable by the government and are punishable by fines, imprisonment, or other sanctions.

Criminal Law

The body of law that relates to crime and prescribes conduct perceived as threatening, harmful, or otherwise endangering to the property, health, safety, and moral welfare of people.