In 2013,the federal government passed a tax cut.The country did NOT incur any opportunity cost from this decision.

Question

Quizplus · Accepted Answer

Every decision has an opportunity cost, which is the value of the next-best alternative that must be given up in order to pursue the chosen option. In the case of the 2013 tax cut, the opportunity cost could have been the reduction of government spending on social programs or increased borrowing to cover the revenue shortfall. Therefore, the statement that the country did not incur any opportunity cost from this decision is false.

In 2013,the Federal Government Passed a Tax Cut