Expenses that a firm does NOT have to pay out of pocket are
A) wages of employees.
B) taxes.
C) implicit costs.
D) explicit costs.
Answer: C
Economics
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The marginal productivity principle has relevance only in a capitalist economy, and not in a socialist system.
Answer the following statement true (T) or false (F)
Economics
The Fisher effect is the tendency for ________ interest rates to be ________ when inflation is high.
A. real; low B. market; low C. nominal; high D. real; high
Economics