Which of the following would be shown on IBM's accounting statement?
a. revenue, implicit costs, explicit costs, and economic profit
b. revenue, implicit costs, explicit costs, and accounting profit
c. revenue, explicit costs, and economic profit
d. revenue, explicit costs, and accounting profit
e. revenue, implicit costs, and accounting profit
D
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The stock of labor talents and skills is known as
a. a public good. b. the functional distribution. c. human capital. d. enterprise.
One unpleasant cure for the U.S. trade deficit of the 1990s would be for foreigners who hold U.S. financial assets to demand
a. lower interest rates to stimulate U.S. growth rates. b. higher interest rates and generate a recession in the United States. c. higher interest rates and generate an appreciation of the dollar. d. lower interest rates and generate a depreciation of the dollar.
Figure 4-16
Refer to . Some policymakers have argued that the government should establish a "living wage." A living wage would provide workers a reasonable standard of living in their city or region. If a living wage of $10 per hour is established in the market pictured here, we would expect
a.
employment will increase to 14 million.
b.
employment will decrease to 8 million.
c.
the wage will actually rise to $20 per hour.
d.
there will be a surplus of 14 million workers.
Refer to the information provided in Table 22.4 below to answer the question(s) that follow.
Table 22.4
Refer to Table 22.4. The total number of people employed is
A. 190 million. B. 120 million. C. 114 million. D. 57 million.