Asked by
Karen Yvorie
on Dec 08, 2024Verified
Refer to Figure 20.2. The opportunity cost of 1 ________ is 4 ________ in the United States and 1.5 ________ in England.
A) car; trucks; trucks
B) truck; cars; cars
C) car; cars; trucks
D) truck; trucks; cars
Opportunity Cost
The cost of forgoing the next best alternative when making a decision or choice.
Car
A motor vehicle with wheels designed for transport, usually propelled by an internal combustion engine or an electric motor.
Truck
A vehicle engineered for the purpose of transporting goods or cargo.
- Evaluate the effects of exchange rate changes on the price of goods and trade.
Verified Answer
BD
Learning Objectives
- Evaluate the effects of exchange rate changes on the price of goods and trade.