When accounting profits are zero, which of the following is most likely to be true?
A. Economic profits are negative.
B. Economic profits could be positive.
C. Economic profits could be zero.
D. All of these are likely.
Answer: A
Economics
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If aggregate expenditure is less than GDP, then inventories rise and GDP falls
Indicate whether the statement is true or false
Economics
A monopolist is defined as
A) a firm with annual sales over $10 million. B) a large firm, making substantial profits, that is able to make other firms do what it wants. C) a single supplier of a good or service for which there is no close substitute. D) a producer of a good or service that is expensive to produce, requiring large amounts of capital equipment.
Economics