Economists recognize what is sometimes referred to as "psychic income" such as the value some people attach to being their own boss
As such, failure to factor in psychic income when calculating economic profit could result in an understatement of the actual economic profit received from a particular enterprise. Indicate whether the statement is true or false
TRUE
Economics
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Historic data indicate that there is usually a ________ relationship between trade deficits and federal government budget deficits
A) negative B) zero C) positive D) fluctuating
Economics
The following are all functions of money except
A) medium of exchange. B) store of value. C) unit of account. D) source of anxiety.
Economics