Real GDP measures:
A. current output at current prices.
B. current output at base year prices.
C. base year output at current prices.
D. base year output at current exchange rates.
B. current output at base year prices.
Economics
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Accountants and Economists differ in their calculations of profits in that;
a. economists consider sunk costs b. accountants consider implicit costs only c. accountants consider explicit costs only d. all of the above
Economics
When a firm's economic profit is greater than zero, the accounting profit is called normal profit
a. True b. False Indicate whether the statement is true or false
Economics