Unlike an accountant, an economist measures costs on a(n) ________ basis
A) explicit
B) replacement
C) historical
D) conservative
B
You might also like to view...
Suppose, in 2008, the federal debt was $5 trillion. That year, the United States ran a deficit of $455 billion. During the course of the year, the inflation rate was 3.8%. How much is the "inflation tax"?
What will be an ideal response?
That some talented people may not enter an occupation because they have heard that people with their personal characteristics do not get hired in that occupation is known as
A) economic discrimination. B) a negative feedback loop. C) a compensating difference. D) worker discrimination.
In response to the overvalued dollar in the early 1970s, the German Bundesbank bought ________ and sold ________ to keep the exchange rate fixed, gaining international reserves
A) marks; dollars B) marks; pounds C) dollars; marks D) dollars; pounds
Employers and workers in the protected industry know that the consequences of protection are principally:
a. lower prices for their output, lower profits for owners, and lower wages for workers. b. higher prices for their output, lower profits for owners, and lower wages for workers. c. higher prices for their output, lower profits for owners, and higher wages for workers. d. lower prices for their output, higher profits for owners, and higher wages for workers. e. higher prices for their output, higher profits for owners, and higher wages for workers.