MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 3, Problem 5DQ
To determine
The cases where the U.S. government faced scarcity constraints, the trade-offs involved, and the
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The United States is one of the world's wealthiest countries. Think of a recent case in which the decisions of the U.S. government were severely constrained by scarcity. Describe the trade-offs that were involved. What were the opportunity costs of the decisions that were actually made?
describe an important trade-off that you recently faced and give an example of some action that has either monetary or non monetary opportunity cost
You win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now?
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