Single-owner proprietorships often unintentionally exaggerate their profits because they
A) forget their explicit losses.
B) look at after-tax instead of pre-tax costs.
C) pay their bills late and therefore incur large interest charges.
D) neglect to consider the opportunity cost of the owner's labor.
D
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An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
After World War II, which of the following about the value of homes is not true?
A. It remained relatively unaffected by inflation. B. They were unaffected by recessions until the 2000s. C. On average they did not fall for 60 years. D. They seemed immune to the business cycle.
Answer the following questions true (T) or false (F)
1. A prisoner's dilemma leads to a noncooperative equilibrium. 2. A member of a cartel earns more profits by producing more than its quota and selling at a price higher than the cartel's price. 3. Collusion is common in oligopoly and monopolistically competitive industries.
If the value of non-cash assistance to the poor were included in their income
A. the official number of persons classified as poor would be higher. B. the official number of persons classified as poor would be lower. C. the poverty income threshold would decrease. D. the poverty income threshold would increase.