An accountant shows an invoice for a resource to the manager of the firm. They are discussing
A. explicit costs.
B. economic profits.
C. implicit costs.
D. either explicit costs or implicit costs, but we can't tell without more information.
Answer: A
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Over the last 100 years, real GDP per person in the United States has grown at an average rate of approximately 2 percent per year
Indicate whether the statement is true or false
The Sherman Antitrust Act states that if a person can prove that he was damaged by an illegal arrangement to restrain trade, he could sue and recover three times the damages he sustained
a. True b. False Indicate whether the statement is true or false
Because the process can increase average wages, collective bargaining increases the well-being of all workers.
a. true b. false
India's decision in late 2016 to withdraw from circulation all existing 500- and 1,000- rupee paper currency, to stop accepting the old currency, and to stop exchanging it for new currency was an attempt by policymakers to
A) eliminate all currency from the economy. B) increase the size of the underground economy. C) reduce corruption. D) end hyperinflation.