A 10 Opportunity cost is the value of a the best forfeited alternative b the

A 10 opportunity cost is the value of a the best

This preview shows page 2 - 3 out of 3 pages.

A 10.Opportunity cost is the value of a.the best forfeited alternative.b.the chosen alternative.c.a free good.d.all forfeited alternatives. C11. In all cases, microeconomics deals with a. what is. b. what should be. c. relatively small units in the economy. d. aggregates or the entire economy. B12. For children between the ages of 2 years old and 11 years old, height and weight are usually a. independent of each other. b. directly related. c. inversely related. d. smoothly related. e. none of the above B 13.Variable X rises as a result of variable Y rising. Variables X and Y are E 14.Variables X and Y are independent of each other. If we plot X on the horizontal axis and Y on the vertical axis, theline that connects combinations of X and Y in a two-variable diagram is TRUE OR FALSE F 15. There are only three Cs that humankind has used to coordinate its economies: co-operation, custom, and competition. F 16. Wages, interest, rent, and profits are the four factors of production.
Image of page 2

Subscribe to view the full document.

F 17. A production possibility curve is a graphical representation of the various combinations of output that are wanted. F 18. An economy as a whole faces scarcity because of limited national income. F 19. The three fundamental questions in economics are what, how, and how many.
Image of page 3
  • Fall '15
  • Econ Reviewer

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes