Give an example of opportunity cost in terms of government actions.

Consider an economy where the government's budget is initially balanced. the production function, consumption function and investment function can be represented as follows y equals k to the power of alpha l to the power of 1 minus alpha end exponent c equals c subscript 0 plus b left parenthesis y minus t right parenthesis i equals i subscript 0 minus d r suppose that taxes increase. what happens to the equilibrium level of output?

Which of the following best describes what production accomplishes? a. efficient use of natural resources. b. a reduction in the size of the labor force. c. an increase in supply that lowers prices. d. value added to resources that already exist.

Zach will be using powerpoint in a speech he is giving to the local rotary club. according to your textbook, zach should a. check the equipment and setup of the room in which he will be speaking. b. distribute handouts of his slides for the audience to look at during his speech. c. bring a flash drive with a backup of his slides. d. all of the above. e. a and c only.