When a State Government Chooses to Build More Roads, the Resources

question 253

Multiple Choice

When a state government chooses to build more roads, the resources used are no longer available for public education programs. This dilemma illustrates the concept of

• A) production expenses.
• B) unemployment issues.
• C) unintended consequences.
• D) opportunity cost.

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Definitions:

Checkbook Balance

The current amount of money recorded in a checking account, according to the account holder's records.

Outstanding Checks

Checks that have been written and recorded in the check register but have not yet been cleared or deducted from the account balance by the bank.

Bank Fee

Charges imposed by banking institutions for various services provided, such as account maintenance, ATM use, or overdrafts.

Reconciled Balance

The balance reported in the accounting records of an entity after adjustments, entries, and reconciliations have been made to the bank statement balance.