A firm's explicit costs are
a. the opportunity costs of the owners
b. its depreciation costs
c. the money paid for use of inputs
d. the foregone rents on owner occupied office space
e. irrelevant to the determination of economic profit
C
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The purchase of stocks and bonds issued in another country is known as foreign direct investment
Indicate whether the statement is true or false
The federal funds market is the market where
a. the federal government borrows money from banks to finance the national debt b. the federal government lends money to commercial banks c. banks borrow from and lend to each other for short periods of time d. banks borrow money from the Fed for short periods of time e. banks buy bonds from the Treasury for long periods of time, typically 10-year bonds