If the return on capital is equal to the cost of capital
A) accounting profits are zero.
B) economic profits are negative.
C) accounting profit and economic profit are equal.
D) economic profits are zero.
D
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A case for income equality includes all the following except
a. maximum economic growth b. randomness of personal misfortune c. unequal ownership of property d. accepting Rawls's theory of justice e. maximization of society's utility
What is the term that describes a situation in which one party to an economic transaction has less information than the other party?
A) inefficient market hypothesis B) asymmetric information C) unequal market structure D) monopsony
Which of the following approaches does not offer an international dependence explanation of underdevelopment?
a. the false paradigm model b. the neoclassical counter-revolution c. the dualistic development model d. the neocolonial dependence model
Cyclical unemployment depends on a country's historical and cultural heritage
a. True b. False Indicate whether the statement is true or false