Economists argue that:
a. accounting costs consider all types of costs including implicit costs
b. there is an opportunity cost associated with all decisions.
c. economic decisions do not have opportunity costs but other decisions do.
d. economic decisions should consider sunk costs
b
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Which of the following is not a reason why the Industrial Revolution occurred when and where it did?
A) The British government was able to more easily seize wealth. B) Institutional changes by the British government helped protect wealth. C) The British government was committed to upholding private property rights. D) The British government was able to eliminate arbitrary increases in taxes.
More than three-fourths of the unemployed are recent entrants into the labor force
a. True b. False Indicate whether the statement is true or false