When a business has implicit costs
A) economic profits are greater than accounting profits.
B) economic and accounting profits are the same.
C) economic profits are less than accounting profits.
D) economic costs are the same as accounting costs.
C
Economics
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Factors of production include
A) the economic system. B) land, labor, capital and entrepreneurship. C) labor and capital (not land, which is fixed). D) only capital, land, and labor.
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If net capital flow were zero for a country, then exports would not equal imports
Indicate whether the statement is true or false
Economics