Which of These Items Would Be Best Categorized as a Sunk

question 306

Multiple Choice

Which of these items would be best categorized as a sunk cost?

• A) a pair of jeans that are much too tight
• B) a basket of apples that will spoil in a week
• C) an application fee for college
• D) a refundable deposit on a hotel reservation

Identify factors that determine the pattern of international trade.

Understand the effects of international trade on a country's production and consumption possibilities frontiers.

Recognize the impact of economies of scale on the benefits from trade.

Understand the concept and calculation of Days Sales Outstanding (DSO) and its relation to firm's credit and collection policies.

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Definitions:

American Politics

Involves the political structure, processes, issues, and actors in the United States, including government institutions, political parties, and elections.

Issue Network

A network of people in Washington D.C. – including bureaucrats, members of Congress, lobbyists, and policy specialists – who regularly discuss and advocate for certain policies.

Public Officials

Individuals holding office in the government, elected or appointed, who are entrusted with administering and implementing public policies.

Brown V. Board of Education

A landmark United States Supreme Court case in which the Court declared state laws establishing separate public schools for black and white students unconstitutional.