A firm’s budget line shows a given expenditure on production, given the input prices for the production process.
Answer the following statement true (T) or false (F)
True
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The key determinant of whether Social Security will be a good investment is _____
a. the number of hours worked by future employees b. internal migration c. real income growth in the United States d. the solvency of the system today
All of the following costs are included in the calculation of accounting profit, except
a. Interest payments on borrowed funds b. Costs paid to suppliers for product ingredients c. Opportunity cost of capital d. Depreciation expenses related to investments in buildings and equipment
It has been found that people die at a much higher rate in hospitals than in most other environments, leading some to conclude that hospitals cause death. What is the problem with this reasoning?
A country has a comparative advantage in a product if the world price is _____ than that country's domestic price without trade
Fill in the blank(s) with correct word