Accounting costs represent
A. explicit costs paid by the firm.
B. both sunk and future costs.
C. long run costs only.
D. opportunity costs.
Answer: A
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When looking at data for unemployment and inflation from the 1970s there is evidence to support the short run Phillips Curve.
Answer the following statement true (T) or false (F)
The size of the labor force in a country is equal to the:
A) number of unemployed workers in the country. B) number of employed workers plus the number of unemployed workers in the country. C) number of employed workers in the country. D) number of employed workers minus the number of unemployed workers in the country.
Every day, ________ changes to make the quantity of money demanded equal the quantity of money supplied
A) real GDP B) the money supply C) the inflation rate D) the nominal interest rate E) the price level
What is the central bank of the United States and what functions does it perform?
What will be an ideal response?