Mary Sander's New Job Is Very Demanding

question 21

Multiple Choice

Mary Sander's new job is very demanding.She regularly works long hours and on the weekends.As a result,Mary has not had much time for her family and friends.This is an example of:

• A)deflation.
• B)financial opportunity cost.
• C)personal opportunity cost.
• D)time value of money.
• E)inflation.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.

Milk

A nutritious white liquid food produced by the mammary glands of mammals, used as a primary source of nourishment for young mammals before they are able to digest other types of food.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in market balance.