What is economic profit?
What will be an ideal response?
Total revenue - economic cost.
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Throughout history, governments have used price controls to
A. protect buyers. B. protect sellers. C. serve the “public interest.” D. All of these responses are correct.
___________ is the best day to find low fares. This is a departure from the conventional wisdom of recent years, when _________ was considered the best bet.
Fill in the blank(s) with the appropriate word(s).
In reference to short-term economic fluctuations, the "trough" refers to:
A. the low point of economic activity prior to a downturn. B. the low point of economic activity prior to a recovery. C. a period in which the economy is growing at a rate significantly below normal. D. a particularly strong and protracted recession.
A decrease in taxes on business investments will increase aggregate supply.
Answer the following statement true (T) or false (F)