Which of the Following Statements About the Concept of Opportunity

question 139

Multiple Choice

Which of the following statements about the concept of opportunity cost is true?

• A)The opportunity cost of a decision only includes monetary outlays.
• B)The opportunity cost of a decision is the next best foregone alternative.
• C)Some decisions have zero opportunity cost.
• D)The opportunity cost of a college education is measured by the payments for tuition and books.

---

Definitions:

Japanese Yen

The official currency of Japan, often symbolized as ¥ and known for its role in the foreign exchange market.

Swedish Krona

The official currency of Sweden, abbreviated as SEK.

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much of one currency can be exchanged for another.

Relative Purchasing Power Parity

A theory which posits that the rate of inflation in two different countries over a specific period affects the exchange rate between their two currencies.