All of the following would be considered explicit costs of operating a business except
A) the rental value of equipment the company owns and uses for its own production.
B) advertising expenses.
C) utility expenses.
D) the cost of raw materials used in production.
A
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If people expect the price of a stock to rise in future, the demand curve for the stock:
a. becomes positively sloped. b. shifts to the right. c. becomes horizontal. d. becomes vertical. e. shifts to the left.
Economics can be divided into two main branches of study: a. capitalism and communism
b. capitalism and socialism. c. demand and supply. d. microeconomics and macroeconomics.
The owner of a perfectly competitive firm sets prices based on cost mark-up.
Indicate whether the statement is true or false.
Normative economics deals with ____ and positive economics deals with ____.
A. what should be; what is B. fiction; fact C. microeconomics; macroeconomics D. negative aspects; positive aspects