According to historian Charles Beard's analysis and interpretation, the Constitution was
(a) divinely inspired.
(b) strongly favored by the vast majority of the colonists.
(c) influenced by the economic self-interest of the delegates to the Constitutional Convention.
(d) of little importance to future economic growth.
(c)
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For most firms, the major difference between accounting profit and economic profit is that
a. explicit and implicit costs are included in the accounting profit while only explicit costs are included in economic profit. b. accounting profit omits the salaries of managers, and therefore, it is generally greater than economic profit. c. accounting profit is based on opportunity cost, whereas economic profit is based on market transactions. d. accounting profit does not consider the opportunity cost of the firm's equity capital and, therefore, generally overstates economic profit.
What are menu costs and why does high inflation increase menu costs?