Regarding costs, accountants _____; economists _____
a. identify stable and predictable costs for decision-making purposes; measure costs for financial reporting purposes
b. identify stable and predictable costs for financial reporting purposes; measure costs for decision making purposes
c. do not include opportunity costs; include opportunity costs
d. include opportunity costs; do not include opportunity costs
e. both b and c
f. both a and d
e
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Since 1999, the capital account has recorded
A) relatively minor transactions, such as migrants' transfers, and sales and purchases of nonproduced, nonfinancial assets. B) transactions that affect the balance of trade or the balance of services. C) statistical discrepancy between the current account and the financial account. D) transactions that affect net capital flows in the economy.
In the Keynesian model, and increase in government spending financed with an increase in taxes will
a. move an economy left along its Phillips curve. b. shift the Phillips curve to the up. c. move an economy right along its Phillips curve. d. shift the Phillips curve down. e. not affect the Phillips curve.
A trade surplus occurs when a country:
A. imports more than it exports. B. imports less than it exports. C. has a negative balance of trade. D. has a zero balance of trade.
The rate of inflation over time records the absolute change in the average cost of purchasing a basket of goods and services
a. True b. False Indicate whether the statement is true or false