I hope you have already gone to Echomouse's site and assuming that you have, I am writing an open letter to Cindy who writes "Adventures In Blah Blah Land" tipping her hand as to her true identity as a macroeconomist. Actually, only Matt may know for sure and he's not telling.
We discuss things such as the current market break, reasons to take everything and go to Brazil and try to get land where there used to be rain forest, and be a part of the new wild west. She's a savvy economist, she is, I tell you. You don't know about economics? We have a six minute lesson so you too can be an economist! Have a great weekend.
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7 comments:
H-O-L-Y CRAP!!! I sure wish I had this guy as my Econ Prof.
So very funny that I am wiping tears from my eyes. I am back down to DEFCON 2.
Thank you CEO, Cindy and Matt!
I should send this to my econ professor for extra credit... first I have to see how I do on this take home test I am working on at this very minute.
Actually, here is a funny question:
Which of the following statements about the concept of opportunity cost is true?
a) The opportunity cost of a decision is the cost of all possible alternatives to the good produced.
b) Many decisions do not involve an opportunity cost.
c) If you have an economics final and an American history final tomorrow, the opportunity cost of studying five hours for your economics exam is the five hours you cannot study for your history exam.
d) The opportunity cost of a college education at a school where you have to drive 100 miles per week is the cost and maintenance of owning an automobile to drive to and from school.
Off the top of my head, I would say all of the above, except that it's not an option, and since this test is from the book writers and I don't read the book, just listen intently in class, that index is sure coming in handy.
Book definition: The opportunity cost of any chice is the forgone value of the next best alternative.
So, c, right CEO?
The opportunity cost of you reading this lengthy comment is the time you lost to read other blogs.
You are correct mon frerette. The opportunity cost of a decision is the alternative decisions that could have been taken. An decision has an alternative, namely no decision. So, the oppotunity cost of a college education is not getting a college education.
Of course, reading your answer is the opportunity cost to eating fine food elsewhere, or having sex elsewhere, or reading another blog, or watching a movie. But your answer was so compelling...
I have some more cats to show you.
Oh, I'm having a laugh!
This was toooo good! lol
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