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principles of macroeconomics

principles of macroeconomics: Short answers
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Pages 10
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principles of macroeconomicsUnit IQ Opportunity cost is the difference between what one could achieve fromapplying an asset to attain one outcome as opposed to pursuing anotheropportunity In this case the asset is one's time By working five daysone could earn Alternatively one could vacation in Costa Rica forfive days at a cost of My estimate of the opportunity cost of optingfor the vacation is Others might apply a value to vacation time anddevelop a different opportunity cost Q Country A has an

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