A normal profit for a self-employed entrepreneur is I. an opportunity cost. II. part of the implicit rental rate of the funds invested in the business
A) only I
B) only II
C) both I and II
D) neither I nor II
A
You might also like to view...
Total surplus is defined as
A) consumer surplus + producer surplus. B) consumer surplus - producer surplus. C) another word for profit. D) another word for total revenue.
Which of the following could increase unemployment and inflation simultaneously?
A) a decrease in the real wage B) an increase in oil prices C) expansionary monetary policy D) contractionary monetary policy
Which of the following statements best describes the concentration movement between 1875-1905?
a. There were two phases, the first of which had relatively more horizontal mergers and the second had relatively more vertical mergers. b. The first phase focused on vertical mergers, the second was a period of relative inactivity in acquisitions, and the third decade was one of horizontal mergers. c. There were three phases, the first of which had relatively more vertical mergers and the second had relatively more horizontal mergers. d. There were two waves of mergers. In the first wave most mergers were motivated by the desire to obtain monopoly profits and the second wave was obtained through greater economies of scale.
By 2006, 20 percent of the mortgage market consisted of:
A. securitized loans, and the rest were backed by the government. B. subprime loans, while 80 percent were still regular prime mortgages. C. individual mortgage loans, and an overwhelming 80 percent had become securitized loans. D. prime loans, and an overwhelming 80 percent had become subprime mortgages.