What is the primary purpose of Citizens Against Government Waste?
a. Quantifying the amount of pork-barrel spending
b. Summarizing federal agency expenditures
c. Monitoring the activities of politicians
d. Analyzing state and local budgets
a. Quantifying the amount of pork-barrel spending
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The difference between explicit costs and implicit costs
A) is that explicit costs are opportunity costs while implicit costs are not. B) is that implicit costs are opportunity costs while explicit costs are not. C) is that explicit costs are short-run costs and implicit costs are long-run costs. D) is that explicit costs involve resources that are purchased and implicit costs involve resources the firm already owns.
To be considered employed, a person must have
a. worked at least 1 hour during the previous week b. searched at least 1 hour for a job during the previous week c. worked at least 5 hours during the current week d. worked at least 15 minutes during the previous month e. earned at least the minimum wage for five or more hours of work per week