A firm's opportunity cost of using resources provided by the firm's owners is called:
A. sunk costs.
B. fixed costs.
C. explicit costs.
D. implicit costs.
Answer: D
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Which of the following are arguments against taxing unrealized capital gains?
a. A person might have to sell an asset in order to pay the tax on it. b. It might be difficult to determine the increase in valuation. c. It increases the incentive to hold onto appreciated assets. d. a and b e. b and c
If you were the Chairman of the Fed and faced inflation, you would most likely
a. encourage commercial banks to provide loans by buying government securities b. encourage commercial banks to provide loans by raising the discount rate c. encourage commercial banks to provide loans by selling government securities d. restrict commercial bank lending by selling government securities e. restrict commercial bank lending by lowering the federal funds rate
A “single tax” on land was proposed in the nineteenth century by
A. Lloyd George. B. Henry George. C. George Washington. D. George Sands.
The real wage rate is the nominal wage rate adjusted for inflation since some base year.
Answer the following statement true (T) or false (F)