An Important Variable That Is Left Out of Economic Models

question 48

Multiple Choice

An important variable that is left out of economic models is

• A) implicit costs.
• B) excess profits.
• C) entrepreneurship.
• D) the opportunity cost of resources.

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Definitions:

Tidal Volume

The amount of air that is inhaled or exhaled during normal breaths at rest.

Lung Cancer

A type of cancer characterized by the uncontrolled growth of abnormal cells in the lungs, often caused by smoking.

Asbestos

A group of naturally occurring fibrous minerals used in building materials, but known to cause lung diseases when inhaled.