Implicit costs refer to
a. out-of-pocket expenses
b. all readily identified expenditures
c. incremental costs of policy
d. none of the above
d. none of the above
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Lisa has an income of $250 per week, which she spends entirely on milk and eggs. The price of milk is $2 per gallon and the price of a dozen eggs is $1
What is the opportunity cost of a gallon of milk? If the price of a dozen eggs rises to $1.50, what happens to the opportunity cost of a gallon of milk?
A decrease in autonomous planned investment spending, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
If an asset has a present value of $50 and appreciates at an interest rate of 4%, what is the asset's future value in 47 compounding periods?
A) Approximately $400 B) Approximately $316 C) Approximately $137 D) Approximately $1143
The U.S. government acts as a lender of last resort to commercial banks
Indicate whether the statement is true or false