Costs paid in money to hire a resource is
A) normal profit.
B) an implicit cost.
C) an explicit cost.
D) an alternative-use cost.
E) economic profit.
C
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Improvements in the productivity of labor will tend to: a. increase the supply of labor
b. increase the demand for labor. c. decrease the supply of labor. d. decrease the demand for labor.
In the long run, fiscal policy influences
a. saving, investment, and growth; in the short run, fiscal policy primarily influences technology and the production function. b. saving, investment, and growth; in the short run, fiscal policy primarily influences the aggregate demand for goods and services. c. technology and the production function; in the short run, fiscal policy primarily influences saving, investment, and growth. d. the aggregate demand for goods and services; in the short run, fiscal policy primarily influences technology and the production function.