Economic profits and losses:
A. are both considered by economists to be a part of production costs.
B. are essential to the reallocation of resources from less desired to more desired goods.
C. have no influence on the composition of domestic output.
D. equalize the distribution of income in the long run.
Answer: B
Economics
You might also like to view...
The ultimate bargaining tool for unions is
A) the strike. B) "labor's Magna Carta." C) the Taft-Hartley Act. D) the sympathy strike.
Economics
Consuming one more of a good increases its marginal-utility-to-price ratio, and consuming one less of the other good lowers its marginal-utility-to-price ratio
Indicate whether the statement is true or false
Economics