The Law of Increasing Opportunity Costs Is a Result of the Fact

question 38

Multiple Choice

The law of increasing opportunity costs is a result of the fact that:

• A) the value of the dollar has declined over time.
• B) wage rates rise as the economy reaches full employment.
• C) consumers tend to value a good more when they don't have much of it.
• D) resources are not equally productive in all output categories.

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Definitions:

Cultural Differences

Variabilities in norms, values, beliefs, and practices among people from different backgrounds or communities.

Corporate Grapevine

An informal communication network within a business organization, through which information and rumors circulate.

Instant Messaging

A form of real-time text communication between two or more people over the internet or another network.

Emotional Contagion

the phenomenon of having one person's emotions and related behaviors directly trigger similar emotions and behaviors in other people.