A Cost That Will Not Be Affected by Later Decisions

question 165

True/False

A cost that will not be affected by later decisions is termed an opportunity cost.

Analyze the effects of unexpected inflation on loan agreements.

Understand the factors that influence changes in the Consumer Price Index (CPI) and how they impact the cost of living.

Comprehend the difference between the GDP deflator and the CPI in measuring inflation.

Understand the application of CPI to convert past salaries or prices to their present-day equivalents.

---

Definitions:

Commercial Speech

Speech or messages that do primarily involve the marketing and sale of products and services, and is subject to greater governmental regulation.

U.S. Supreme Court

The highest court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.

Takings Clause

A provision in the Fifth Amendment of the U.S. Constitution that prevents the government from taking private property for public use without just compensation.

Just Compensation

The fair market value pay required by the government to be given to a property owner when the government takes private property for public use under the power of eminent domain.