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You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you are not in this line, determining the opportunity cost requires only knowing the one thing you would be doing. Calculate (in $$$) your opportunity costs of standing in line.
Think about what you would be doing if you weren’t in class. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you were not in class, determining the opportunity cost requires only knowing the one thing you would be doing. Calculate (in $$$) your opportunity costs of sitting in class.
The classic example of opportunity cost is the costs of going to college. Illustrate the implicit opportunity cost of foregone income as well as tuition, books, etc. Think about whether room and board should be considered a cost of college. Calculate (in $$$) your opportunity costs of going to college.
Discuss the opportunity costs of natural disasters. Calculate (in $$$) your opportunity costs of natural disaster.
Read the articles and create your own example of opportunity costs. Your ideas should be supported by calculation (in $$$) of opportunity costs.
Suppose my grand grandmother in 1909 put $100 in the bank account for me. The bank has been paying the compounded (annual compounding) interest rate of 5% per year. If I go and pick up this money now (that is in 2009) how much money will I get?
A simple model of search. Consider an agent who lives two periods. He is unemployed at the beginning of the first period and has a wage offer of w. If he accepts the wage offer w, he will work forever at that wage. What is the expected value of the p..
A central bank has decided to adopt inflation targeting and is now debating whether to target 5 percent inflation or zero inflation. If the central bank commits to targeting 5% inflation, what is expected inflation? If the central bank follows throug..
An elderly physician has built up his own practice into a quite valuable business. Now that he is thinking of retiring, he wants to take on a partner to learn the business and eventually buy the practice in three years. Discuss the plusses and minuse..
Elucidate how each of the following people would talk about scarcity and trade offs.
There are 20,000 hours of labor for country A. 5 hours of labor are required to produce 1 unit of S, while 4 hours are required to produce 1 unit of T. Find the shape and dimensions of country A's PPF.
Discuss what role social media can play in the international system and how the major theories in I.R. (Realism, Liberalism, and Constructivism) would deal with social media.
As defined by the military philosopher Karl von Clausewitz, what is friction in war? Surprises and unexpected variables.
q1. illustrate the positive part for us economic by getting the oversea factories back?q2. illustrate does the fed get
On October 19, 1987, the Dow Jones industrial average dropped about 500 points or a little more than 23%. What effect should a decline in stock values of this magnitude have had on aggregate demand according to the life-cycle theory of consumption?
A new gear grinding machine for composite materials has a first cost of P=$100,000 and can be used for a maximum of 3 years. Its salvage value is estimated by the relation S=P(0.85)n, where n is the number of years after purchase. The operating cost ..
Assume an economy with a coal producer, a steel producer, and some consumers (there is no government). In a given year, the coal producer produces 15 million tons of coal and sells it for $ 5 per ton. The coal producer pays $ 50 million in wages to c..
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