Martin has given himself an entertainment budget of $5 per week. he has decided that each week he will spend that $5 by either attending a matinee movie at his local theater or downloading five songs by one ofhis favorite artists. what is the non-monetary opportunity cost of seeing a movie this week? - five songsopportunity cost is: - the value of the opportunity that you give up when you choose one activity instead of another. in the circular model, only by selling resources can obtain the income they need to buy the products they want to consume.- householdsa waste of resources that could have been used to produce something else occurs when: - mb < mceconomics is the study of how individuals and societies allocate resources among many competing uses.- limitedthe value of the next-best foregone alternative is the . - opportunity
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Suppose there are only three people in the economy: jane, harry, and bob. the individual demand for corn for each of these consumers is given in exhibit 3-1. the total quantity demanded of corn if the market price is $5 is
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Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.
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In two or three sentences describe how open market operations change the money suppy
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Martin has given himself an entertainment budget of $5 per week. he has decided that each week he wi...
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