Economic profit is:
a. total revenues minus variable costs.
b. total revenues minus private costs.
c. total revenues minus explicit costs.
d. total revenues minus total costs.
d
Economics
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The United States relies heavily on markets and so cannot be characterized as a mixed economy.
Answer the following statement true (T) or false (F)
Economics
If bank reserves are 200, the public holds 400 in currency, and the desired reserve/deposit ratio is 0.20, the deposits are ________ and the money supply is ________.
A. 400; 800 B. 200; 600 C. 600; 1,000 D. 1,000; 1,400
Economics
If the marginal propensity to save is 0.4, the multiplier is 2.5
Indicate whether the statement is true or false
Economics
Why should the GDP accounts matter to the average citizen?
Economics