Examlex
John is a high school student. He has ranked his three options of what he can do during the Christmas school break in the following order: (1) work in a fast-food restaurant full-time and earn $2,000; (2) work in a department store for the first two weeks of the break and earn $1,000, and spend the rest of the break traveling; and (3) work in his father's shoe factory full-time and earn $1,500. What is the opportunity cost of his choice?
Combinations
In mathematics and statistics, combinations refer to the selection of items from a group, where the order of selection does not matter.
Total Utility
The overall satisfaction or pleasure a person derives from consuming a certain quantity of goods or services.
Marginal Utilities
The increased enjoyment or benefit obtained by a user from the consumption of one more unit of a good or service.
Buyer's Income
The total earnings available to a buyer for the purpose of making purchases, including both disposable income and any credit.
Q20: If goods A and B are substitutes,then
Q25: If the economy is growing along the
Q30: If output was at the level corresponding
Q36: Along an indifference curve,different combinations of a
Q59: Suppose you read in the paper that
Q66: If the cross-price elasticity between two goods
Q75: If the Fed sells $15 million worth
Q81: Refer to Exhibit 1-7.A movement from Point
Q97: Some economists believe that productivity growth is
Q103: The Federal Reserve serves as a financial