Posts Tagged ‘D.C.’

  • Decisions Have An Opportunity Cost That Require Tradeoffs

    Opportunity Cost: A $10 Million Trade-off

    Aug 22, 13 • 468 Views • Behavioral Economics, Economic Debates, Economic Growth, Education, Labor, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    NYC’s $69 billion budget is all about trade-offs. With $10 million NYC could buy 9 ladder trucks for its fire department or pay 80 police officers a year. It could also resurface 65 lane-miles of city streets or it could just return $4.47 to each