Your employer pays for the maintenance on your car. The monetary value of this car maintenance is
A. included in both economic and money income.
B. included in your economic income, but not your money income.
C. not included in your economic income, but included in your money income.
D. not included in either economic income or money income.
Answer: B
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The availability of vast stocks of natural resources is an example of a(n):
A) implicit cause of prosperity. B) explicit cause of prosperity. C) fundamental cause of prosperity. D) proximate cause of prosperity.
If Henry, a perfectly competitive lime grower in Southern California, can sell his limes at a price greater than his average total cost, Henry will
A) incur an economic loss. B) incur an accounting loss. C) have an incentive to shut down. D) make an economic profit. E) make zero economic profit.
An unintended bad outcome is referred to as a(n) ________ and ________ cause harm to an individual firm.
A) accident; cannot B) mistake; cannot C) accident; can D) mistake; can
A safe driver would likely choose an auto insurance policy with a
a. low premium and a high deductible. b. high premium and a high deductible. c. high premium and a low deductible. d. high premium and no deductible.