All these factors would shift the supply curve of tobacco, except
a. Bad weather
b. Change in the price of tobacco
c. Changes in the wages of agricultural workers
d. A tax charged on the production of tobacco
b
Economics
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________ is called an implicit cost, while ________ is called an explicit cost
A) A nonmonetary opportunity cost; a cost that involves spending money B) An accounting cost; an economic cost C) A production cost; a sales cost D) An actual cost; a hypothetical cost
Economics
If the correlation between GDP and y is 0.55, we say y is
A) procyclical. B) acyclical. C) countercyclical. D) tricyclical.
Economics