When a business is calculating its operating costs, it must include _____.
(A) Building rental costs
(B) Variable costs
(C) Fixed costs
(D) Total costs
Ans: (B) Variable costs
You might also like to view...
Which of the following is an explanation for the existence of trade restrictions?
A) Tariffs generate revenue for the government. B) rent seeking C) inefficient quotas D) Both answers A and B are key explanations.
When economic rent exists,
A) the price is equal to the opportunity cost of the resources. B) price is the same as the discount rate. C) resources are allocated inefficiently. D) resources are allocated efficiently.
Budget deficits are even more inflationary if they are monetized.
Answer the following statement true (T) or false (F)
The recession of 2007-2009 was the most severe economic downturn in the U.S. since the
a. 1930s. b. 1950s. c. 1970s. d. 1980s.