Adam Smith noted that people are adept at which of the following?
a. Confusing themselves if given the chance.
b. Proving the truth of "Murphy's Law."
c. Denying themselves for the sake of others.
d. Pursuing their own self-interest.
e. All of the above are correct.
d
Economics
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In the figure above, the tariff ________ the domestic production of shirts in the United States by ________ per year
A) increases; 8 million B) decreases; 16 million C) increases; 4 million D) decreases; 8 million
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The implicit rental rate for capital is
A) an accounting cost. B) part of the firm's normal profit. C) an opportunity cost. D) a cost that is irrelevant to the business.
Economics