Out-of-pocket expenses such as wages and raw materials are
A) direct costs.
B) an owner-provided capital cost.
C) implicit costs.
D) explicit costs.
D
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Refer to Table 7-6. Which country has an absolute advantage in producing belts?
A) Estonia B) Morocco C) both countries D) neither country
If the problem of asymmetric information is so serious that a lender chooses not to lend to any potential small business borrower, then the problem is
A) moral hazard. B) adverse selection. C) market failure. D) disintermediation.
Public goods: a. Can be both produced and financed by the private sector
b. Can be both produced but not easily financed by the private sector c. Cannot be produced but can be financed by the private sector. d. Cannot be produced or easily financed by the private sector.
Nursing home care is covered by
A. Medicaid, regardless of income or wealth. B. Medicaid, but only for the poor. C. Medicare, Part A. D. Medicare, Part B.