Economists and accountants have very different definitions of profit.
Answer the following statement true (T) or false (F)
True
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The neoclassical theory of investment
A) links investment spending to stock prices. B) emphasizes that current investment spending depends positively on the expected future growth of GDP. C) emphasizes the role of real interest rates and taxes as determinants of investment. D) suggests that a downturn in real GDP will lead to a sharp fall in investment, which leads to further reductions in GDP through the multiplier.
When a person throws a cigarette out of a car window and starts a brush fire, this is
A) an example of an external benefit. B) an example of an external cost. C) an example of a public good. D) an example of market power.
When John F. Kennedy said, "A rising tide lifts all boats," to what was he referring?
a. With government intervention, all citizens receive a greater allocation of resources. b. With market forces working independently, everyone receives an equitable share of resources. c. With economic growth, more families are pushed above the poverty line. d. None of the above are correct.
George likes skiing and needs one pair of bindings for each pair of skis he owns. George's indifference curves for skies and bindings
A. are straight lines. B. are approximately L-shaped. C. slope downward. D. slope upward.