Which of the following would most likely cause an increase in the demand for oatmeal?
a. An increase in the price of eggs
b. An increase in the price of orange juice
c. A fall in the price of corn flakes
d. A fall in the price of oatmeal
e. An increase in the price of cigarettes
C
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When economic profits are positive, accounting profits could be:
A. positive. B. negative. C. zero. D. All of these are possible.
Anne is an accountant who lost her job in the last recession and has given up looking for work after an unsuccessful job search. Which of the following is true in this case? a. She is a discouraged worker
b. She is underemployed. c. This is an example of cyclical unemployment. d. This is an example of seasonal unemployment. e. She is overemployed.
Profit is the difference between:
a. total output and total costs. b. total revenue and total costs. c. total revenue and total sunk costs. d. total output and total sunk costs. e. total revenue and opportunity costs.
An example of a non-pecuniary job characteristic is
a. an end-of-the-year bonus. b. salary. c. a comfortable work environment. d. over-time pay.