One Way to Measure the Opportunity Cost of an Hour

question 20

Multiple Choice

One way to measure the opportunity cost of an hour of leisure is:

• A)the wage rate that an individual could earn for that hour.
• B)the cost of going to a restaurant every evening to eat.
• C)the cost of visiting a museum just for fun.
• D)the cost of the cleaning service that I hire to clean my house because I work 50 hours per week.

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Definitions:

Dissociative Fugue

A rare psychiatric disorder characterized by temporary amnesia for personal identity, including the memories, personality, and other identifying characteristics of individuality.

New Identity

The concept of adopting or developing a different persona or self-perception, often in response to life changes or personal growth.

Schizoid Personality Disorder

A mental disorder characterized by a lack of interest in social relationships, a tendency towards a solitary or sheltered lifestyle, and emotional coldness.

Avoidant Personality Disorder

A mental condition characterized by a long-standing pattern of extreme shyness, feelings of inadequacy, and sensitivity to rejection.