If the owners of a business are receiving total revenues just sufficient to cover all of their explicit and implicit costs, then they are:
A. earning a normal profit.
B. doing worse than their next best alternative.
C. earning an economic loss.
D. doing better than their next best alternative.
Answer: A
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Uniform standards
a. are not relevant to mobile source controls b. refer to standards that remain the same over time c. have been shown to be more costly than a two-tiered standard on motor vehicles d. achieve an allocatively efficient outcome
Before 2000, the three most recent U.S. recessions occurred in
A) 1969-1973, 1979-1982, and 1994-1995. B) 1973-1975, 1982-1985, and 1990-1991. C) 1973-1975, 1981-1982, and 1990-1991. D) 1981-1982, 1990-1991, and 1998-1999.
Sometimes distinct patterns around a trend line can be caused by
A) poor underlying data. B) dummy variables. C) seasonal variation. D) statistical anomalies.
The portion of the four-sector circular flow model which shows the flow of funds from savers to borrowers is the:
a. product market. b. factor market. c. savings market. d. financial market.