Without money, no transaction can occur
a. True
b. False
Indicate whether the statement is true or false
False
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Because the amount of labor a firm employs can be changed, the cost of labor is known as
A) minimum cost. B) variable cost. C) maximum cost. D) fixed cost. E) an unavoidable cost.
The quantity of real GDP supplied... the amount of ...
What will be an ideal response?
Which of the following characteristics is generally representative of developed countries relative to developing nations?
A. a shorter life expectancy B. a smaller percentage of children enrolled in college C. a smaller percentage of the population working in agriculture D. a higher rate of infant mortality
The explicit cost of production is also called
A) accounting cost. B) overhead cost. C) direct cost. D) variable cost.