A firm that has negative economic profits has accounting profits that are
A. zero.
B. positive.
C. negative.
D. indeterminate without more information.
Answer: D
You might also like to view...
Under an infinitely inelastic supply of land, the economic rents to land ________ if the price of land doubles
A) increase by less than 100% B) double C) increase by more than 100% D) none of the above
In 2012, the combined expenditures of federal, state, and local governments in the United States were approximately
a. 9 percent of GDP. b. 24 percent of GDP. c. 38 percent of GDP. d. 45 percent of GDP.
Refer to the below graph. It shows the supply curve for a product before tax (S0) and after an excise tax is imposed (S1). If 500 units of the product are sold after the tax is imposed, the amount of the tax borne by the consumer is:
A. $125
B. $250
C. $375
D. $500
Which of the following is a valid characteristic of the U.S. economy over the last sixty years?
A) Investment is smoother than most of the other components of GDP, especially consumption. B) Government spending has remained around 20% of GDP over much of the postwar period. C) The U.S. has, for the most part, been running a trade surplus which has trended upward to over 5% of GDP. D) all of the above E) none of the above