A cost that has already been made and cannot be recovered is called a
A) variable cost.
B) fixed cost.
C) sunk cost.
D) marginal cost.
C
Economics
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Economics can be defined as the social science that explains the ________
A) choices made by politicians B) choices we make when we trade in markets C) choices that we make as we cope with scarcity D) choices made by households
Economics
Utility is a(n) _____ measure of well being of a person
a. objective b. subjective c. ordinal d. cardinal
Economics
When the federal government cuts taxes and increases purchases to stimulate the economy during a period of recession, such actions are designed to be
A. expansionary. B. passive. C. contractionary. D. automatic.
Economics
Sustained economic growth emerged in history when some nations of the world managed to create conditions where
What will be an ideal response?
Economics