Which of the following would not be included in the calculation of accounting profit?
A. The rent paid by the owner for the use of a building.
B. The salary the owner could have earned working elsewhere.
C. The medical insurance coverage for the company's workers.
D. The wages paid to the company's workers.
Answer: B
You might also like to view...
The change in total welfare from a 10% increase in price will depend only on the elasticity of demand
Indicate whether the statement is true or false
Which of the following is a positive incentive?
A. Discover credit cards offer 0 percent balance transfer rates for someone to open a new account. B. McDonalds decides to offer a white chocolate mocha. C. A school teacher decides to retire and focus on gardening. D. A business decides to leave the industry.
Some economists argue that the recent relatively high rate of unemployment has resulted in part from the fact that a part of the workforce has not made the adjustment to new technologies
Indicate whether the statement is true or false
Over the past several decades, farm employment has:
A. grown absolutely but declined as a percentage of total employment. B. declined both absolutely and as a percentage of total employment. C. increased both absolutely and as a percentage of total employment. D. declined absolutely but increased as a percentage of total employment.