If a firm shuts down in the short run, its losses are equal to
A. TC ? TR.
B. TFC.
C. TVC.
D. MC.
Answer: B
Economics
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People consistently consider sunk costs when weighing the trade-offs involved in a decision because:
A. they are rational. B. they are utility-maximizers. C. they think at the margin. D. they find it hard to accept their losses.
Economics
GDP measures the output produced by all of a country's resources
a. True b. False
Economics
Tax loopholes increase the progressivity of the federal income tax
a. True b. False Indicate whether the statement is true or false
Economics
The measurement of income distribution that splits income earned among the various factors of production (inputs) is called the
A. family distribution of income. B. personal distribution of income. C. functional distribution of income.
Economics