Accounting profit is the sum of a firm's revenue and its opportunity costs
Indicate whether the statement is true or false
FALSE
You might also like to view...
Who helps calculate GDP in the United States?
A) the Bureau of Economic Analysis B) the Census Bureau C) the Bureau of Labor Statistics D) all of the above E) none of the above
In determining the number of persons who are poor in the U.S. when calculating family income
A. only earnings are counted. B. only earnings are counted, while cash transfers from the government are excluded. C. money income, including cash transfers received from the government, is counted. D. both earnings and the value of medical services, food stamps, and housing received are counted.
According to Milton Friedman, the reason there are two Phillips curves is because
A) the expected inflation rate is always higher than the actual inflation rate. B) wages are inflexible. C) prices are inflexible. D) the expected inflation rate does not instantaneously adjust to changes in the actual inflation rate. E) the expected inflation rate is equal to 1 minus the actual inflation rate.
In conducting quantitative easing, the Fed may decide to purchase mortgage securities to do all of the following EXCEPT:
A. affect long-term interest rates. B. influence average home prices. C. reduce interest rates on home purchases. D. increase the amount of bank reserves.