Julia prepares tax returns and does bookkeeping. Last year her revenues from the tax and bookkeeping business were $150,000 . and her expenses for the business were $15,000 . When she started her tax and bookkeeping business, Julia gave up her supplemental job doing in-home pet sitting. She used to earn $10,000 per year from pet sitting. Assume that she incurred no costs for her pet sitting
business. Julia's explicit costs are
a. 0.
b. $10,000.
c. $15,000.
d. $25,000.
c
Economics
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Suppose we have an economy in which G = 1100, t = 0.26, Y = 3800, and YN = 4000. At Y the cyclical deficit is
A) 60. B) 112. C) -172. D) -52. E) 52.
Economics
Cash payments to a steel mill for steel used in production of automobiles would be an example of
a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. entrepreneurial costs
Economics