Accounting costs and economic costs differ because
A. Economic costs include explicit costs and accounting costs do not.
B. Accounting costs include implicit costs and economic costs do not.
C. Accounting costs include explicit costs and economic costs do not.
D. Economic costs include implicit costs and accounting costs do not.
Answer: D
You might also like to view...
The table above presents the production possibilities frontier for a nation. Using the information in the table, moving from possibility C to B means that
A) 4 units of capital goods are given up to get 55 units of consumption goods. B) 2 units of capital goods are given up to get 55 additional units of consumption goods. C) 4 units of capital goods are given up to get 10 additional units of consumption goods. D) 4 units of capital goods are given up to get 45 units of consumption goods. E) 2 units of capital goods are given up to get 10 additional units of consumption goods.
If all government budgets are balanced, and S is greater than I, then
A) the net international investment position must be positive. B) the financial account must be positive. C) the financial account must be negative. D) the net international investment position must be negative. E) Both A and B.
In the case study discussed in the chapter, the electronics firm was actually enhancing its profits by selling calculators at a price that was below average cost.
Answer the following statement true (T) or false (F)
The socialist countries of Eastern Europe have
a. fewer environmental problems than capitalist countries. b. improved their environment more than the capitalist countries. c. worse environmental problems than capitalist countries. d. worsened since the collapse of communism there.