When purchasing a product with a credit card, the benefit of the product will be experienced in the ________, and the cost will be experienced in the ________.
A. present; present
B. present; future
C. future; present
D. future; future
Answer: B
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In the diagram below, draw a straight line with a slope of zero
What will be an ideal response?
Which of the following is NOT a solution to a principal-agent problem?
A) ownership B) managerial hierarchy C) incentive pay D) long-term contracts
To maintain a balanced budget during the sag in personal spending in 2008 could cause a
a. further increase in aggregate demand and inflation. b. further increase in aggregate demand and unemployment. c. further decrease in aggregate demand and a recession. d. further decrease in aggregate demand and inflation.
Accounting profit differs from economic profit because:
a. of differences in the manner in which revenue is calculated. b. economic costs include depreciation, while accounting costs do not. c. accounting costs are generally higher than economic costs because accounting costs include explicit and implicit costs, while economic costs include only explicit costs. d. economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.