Which of the following is a key economic function of government? a. issues passports, visas, and foreign travel advisories b. researches the causes and cures of illness and disease c. awards medals...

Which of the following is a key economic function of government?

a. issues passports, visas, and foreign travel advisories

b.  researches the causes and cures of illness and disease

c.  awards medals and honors for cultural achievement

d.  protects and enforces property rights and contracts

Your friend convinced you to spend all day at the Renaissance Faire. The ticket to the Renaissance Faire cost $25 and food at the venue cost $20 Alternatively, you could have worked for 4 hours tutoring at the SAC earning $15/hour and then spent the rest of the day with your family what your opportunity cost of going to the Renaissance Faire?

a. $45

b. $105 + value of time with your family

c. $15

d. $60