Accounting profit is usually larger than economic profit.
Answer the following statement true (T) or false (F)
True
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According to the Keynesian view of the demand for money, an increase in uncertainty will cause
A) a decrease in interest rates. B) an increase in interest rates. C) an increase in aggregate income. D) an increase in consumption.
The economic justification for public subsidies to university research is based on
a. the value of this research to the university. b. the higher salaries graduate students earn as a result of working with professors involved in research. c. the external benefits of research and development to, in particular, high rates of economic growth. d. higher incomes earned by those who provide services to university researchers (equipment, supplies, etc.).
In a strike, what does the union have to lose? What does management lose?
A temporary adverse productivity shock would
A. decrease the level of employment. B. decrease the expected future marginal product of capital. C. shift the labor supply curve upward. D. decrease future income.