From the economic point of view, profit is
A) a four-letter word.
B) the same as loss.
C) the result of uncertainty.
D) a sign of economic injustice.
E) none of the above.
C
You might also like to view...
Given below are the current account transactions of an economy in a year
a. exported goods and services worth $120 billion b. imported goods worth $200 billion c. revenue earned from manufacturing plants situated abroad equals $80 billion d. dividend paid to foreign investors equals $10 billion e. donations and disaster relief funds given to a foreign country equal $10 billion f. received "gifts" worth $5 billion from foreign donors towards poverty alleviation i) Calculate the economy's trade balance. ii) What will be the balance in the economy's current account?
Compared to PPF1, along with PPF2 
A. the economy can produce more butter. B. the opportunity cost of producing butter is more than before. C. the economy can produce more guns. D. All of these choices are correct.
The "guns versus butter" dilemma that all nations confront is that
A. An increase in national defense implies more sacrifices of civilian goods and services. B. Guns and butter can be produced using the same resources at the same time. C. An increase in national defense is possible only if we produce more butter. D. All of the choices are correct.
Suppose that you rent a house next to a factory. The factory legally emits a chemical into the air that smells like feet. You now have to spend $300 more per month on air fresheners because the firm pollutes the air. You could move to another house far enough away from the factory, but the rent for that house is $200 more than you now pay. The efficient solution to this problem is that
A. the firm should be able to continue to pollute because only one person is being harmed by the factory's pollution. B. the factory owner should compensate you $300 so that you can pay for the additional expenses you incur. C. you should move to the new house because the additional rent on that new house is less than the additional expenses you incur from living next to the factory. D. the factory owner should reimburse you $100, the difference between your expenses and the higher rent on the new house.