Generally Speaking, People Have

question 94

Multiple Choice

Generally speaking, people have

• A) more confidence in the federal government than in state and local government.
• B) more confidence in the state and local governments than in the federal government.
• C) equal confidence in the federal government and the state and local governments.
• D) more confidence in both the federal government and state and local governments.

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Definitions:

Opportunity Cost

The cost of foregone alternatives when a decision is made, essentially what is given up to undertake a certain action.

Alternative Use

speaks to the different ways an asset or resource can be utilized outside its current application, highlighting its opportunity cost.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest resources in one option over another.

Hard Drive

A data storage device used for storing and retrieving digital information, typically using rapidly rotating disks coated with magnetic material.