The new growth theory asserts that profits are
A) temporary, because the discoveries that lead to profits are eventually used by all.
B) an illusion, since costs are never fully covered.
C) permanent, because physical activities can be replicated.
D) not an essential component determining whether the economy grows or not.
E) permanent, because they are derived from discoveries.
A
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A firm's net income is also its accounting profit
Indicate whether the statement is true or false
Commercial paper has a minimum maturity of
A) one day. B) seven days. C) 30 days. D) 270 days.
A goal of equality of income can be justified based on the utilitarian idea that _____
a. individuals face diminishing marginal utility of income b. social welfare functions are convex to the origin c. rich people have more than they every could need d. redistribution does not lead to an increased excess burden of taxation
The most important item in the public assistance (welfare) package is
a. Aid to Families with Dependent Children b. Medicaid c. Medicare d. food stamps e. housing subsidies