In 2003,Congress passed a tax cut.The country did NOT incur any opportunity cost from this decision.

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Anytime a decision is made to allocate resources in one way, it comes at the expense of potentially allocating those resources in a different way. This is the concept of opportunity cost. Congress making the decision to pass a tax cut meant that the money being used for that tax cut could have been used for something else instead, such as paying down the national debt, funding infrastructure projects, or investing in education, among other options. Therefore, there was an opportunity cost associated with this decision.

In 2003,Congress Passed a Tax Cut