Which of the following is true?
A) Accounting profits = Revenues - Implicit costs - Explicit costs
B) Economic profits = Revenues - Explicit costs
C) Accounting profits = Revenues - Implicit costs
D) Economic profits = Accounting profits - Implicit costs
D
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A property of an asset that makes it desirable for use as a means of settling debts maturing in the future is a(n)
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
Assume that the central bank purchases government securities in the open market. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and reserve-related (central bank) transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions become more negative (or less positive). b. The quantity of real loanable funds per time period falls, and reserve-related (central bank) transactions remain the same. c. The quantity of real loanable funds per time period and reserve-related (central bank) transactions remain the same. d. The quantity of real loanable funds per time period rises, and reserve-related (central bank) transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Which of the following is not a characteristic of a monopoly?
a. barriers to entry b. one seller c. one buyer d. a product without close substitutes
Refer to the table below. The marginal cost of the 4th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10 B. $8 C. $6 D. $5