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Maria has to choose between driving and taking a train to destination A. Traveling by train will cost her $400 and will take 4 hours. Driving to destination A takes 6 hours, and the required amount of gasoline costs $250. Her opportunity cost of time is $15 per hour.
-Refer to the scenario above.If Maria's opportunity cost of time increases to $80 per hour,the cost of taking the train is ________.
Trade Deficit
A situation where a country imports more goods and services than it exports, resulting in a negative balance of trade.
Gold Standard
An economic arrangement where paper money in a country directly mirrors the value of gold.
World War II
A global conflict that lasted from 1939 to 1945, involving most of the world's nations and leading to significant geopolitical changes.
Great Depression
A severe worldwide economic downturn that took place during the 1930s, beginning with the U.S. stock market crash of 1929 and leading to widespread economic hardship globally.
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