A cost that has already been incurred and cannot be recovered is known as a(n)_____ a. sunk cost.
b. opportunity cost. c. direct cost.
d. implicit cost.
e. explicit cost.
a. sunk cost.
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If the cross elasticity of demand between goods A and B is positive
A) the demands for A and B are both price elastic. B) the demands for A and B are both price inelastic. C) A and B are complements. D) A and B are substitutes.
A favorable balance of trade occurs when:
a. exports equal imports. b. the balance of payments balances. c. the current and capital account in the BOP are equal. d. the value of the exports of goods exceeds the value of the imports of goods. e. the value of the exports of goods is less than the value of the imports of goods .
Which of the following transactions takes place in the markets for the factors of production in the circular-flow diagram?
a. Dylan receives a salary for his work as a financial analyst for an investment firm. b. Kristin buys two business suits to wear to her job as a Chief Information Officer. c. Jim receives clean water in his home in exchange for paying his water bill. d. Caroline owns a nail salon and receives payments from her clients for her services.
The leaders of a major technology firm are optimistic, and they decide to sell more shares of stock and build some new facilities. Based on their actions, it is most likely that the securities market is ______.
a. falling quickly b. rising quickly c. having mixed results d. bottoming out