Sunk costs are irrelevant to economic decisions because
A) they are merely opportunity costs rather than monetary expenditures.
B) they cannot affect a firm's net revenue.
C) they do not appear on financial statements.
D) they represent no opportunity for choice.
D
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Approximately what percentage of food stamps are issued to individuals who are not entitled to them?
a. 5 percent b. 15 percent c. 25 percent d. 35 percent
Which of the following correctly describes an aspect (or aspects) of the U.S. experience with affirmative action?
a. The Civil Rights Act of 1964 made it a felony for any private firm to employ a smaller percentage of minority workers than their overall percentage of the general population. b. All companies doing business with the federal government are required to set numerical hiring, promotion, and training goals to ensure that these firms did not discriminate in hiring based on race, sex, religion, or national origin. c. In 1989 the U.S. Supreme Court ordered Richmond, Virginia, to enact set-aside programs to reserve 30 percent of all construction work for minorities. d. The firms doing business with the federal government are allowed to discriminate in hiring based on race, sex, religion, or national origin.
New Keynesian economics assumes rational expectations and
A. flexible prices, but sticky wages. B. flexible prices and wages. C. sticky prices and wages. D. flexible wages, but sticky prices.
Featherbedding refers to
A) training programs initiated by the unions to make the less-skilled workers more productive. B) attempts by management to reduce workers' interest in a union. C) the practice that forces employers to use more labor than they would otherwise. D) the amount of the union premium.