An example of an implicit cost is
A. a business using a building owned by the business owner.
B. the payment of interest on a bond.
C. payment of a salary to a CEO of a company.
D. a payment to a resource owner.
Answer: A
You might also like to view...
What happens typically to a budget deficit during a recession?
A. It increases because of tax changes. B. It decreases because of spending decreases. C. It decreases automatically. D. It increases automatically.
For both Keynesians and monetarists to predict accurately the effects of a change in the money supply on the price level, they need to add ____ to their analysis
a. aggregate demand b. nominal GDP c. real GDP d. aggregate supply e. government spending
An externality is an example of
a. a corrective tax. b. a tradable pollution permit. c. a market failure. d. Both a and b are correct.
Which of the following would increase the supply of laptop computers?
A. Higher wage rates for the workers that produce laptop computers. B. A technological improvement that lowers the cost of producing laptop computers. C. An increase in the price of computer chips used to produce laptop computers. D. An increase in the price of laptop computers.