One Way to Measure the Opportunity Cost of an Hour

question 20

Multiple Choice

One way to measure the opportunity cost of an hour of leisure is:

• A)the wage rate that an individual could earn for that hour.
• B)the cost of going to a restaurant every evening to eat.
• C)the cost of visiting a museum just for fun.
• D)the cost of the cleaning service that I hire to clean my house because I work 50 hours per week.

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Definitions:

Increasing Dramatically

Describes a situation or quantity that is rising or growing at a very rapid pace.

Internalize

The process of incorporating the values, attitudes, or norms of another into one's own belief system or behavior.

Withdrawn

A state or condition of being emotionally detached and isolated from others.

Lonely

A feeling of sadness because one has no friends or company.