A nonmonetary opportunity cost is called a(n) ________, while a cost that involves spending money is called a(n) ________
A) accounting cost; explicit cost
B) implicit cost; explicit cost
C) accounting profit; economic profit
D) normal rate of return; asset
Answer: B
Economics
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If prices of a nation's exported products rise in comparison to prices paid for imports, that nation experiences a:
a. rise in its international terms of trade. b. decline in its international terms of trade. c. reduction in its imports. d. reduction in its exports.
Economics
The problem typically during a recession is not that there is too little money, but too little spending. If the problem was too little money, what would be its cause? If the problem was too little spending, what could be its cause?
What will be an ideal response?
Economics