Explicit costs are
A) costs that are measured in dollars.
B) costs that do not involve an exchange of money.
C) the same as opportunity costs.
D) the same as implicit costs.
Correct Answer:
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Q17: A situation where limited resources make it
Q18: The opportunity cost of an activity is
A)
Q19: Who faces trade-offs?
A) individuals
B) households
C) governments
D) all
Q20: You decide to spend time studying for
Q21: Your opportunity cost of attending a lecture
Q23: Implicit costs are
A) costs that are measured
Q24: While falling prey to the seductive ways
Q25: You paid $145 for an iPod Nano.
Q26: The amount you pay for apps to
Q27: You decide to spend Thanksgiving with your
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