Total profit = Total revenue ? Total cost (including opportunity cost). Total profit defined in this way is called
a. accounting profit.
b. economic profit.
c. absolute profit.
d. relative profit.
b
Economics
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In the Keynesian consumption function
a. consumption is a constant fraction of income. b. the marginal propensity to consume is constant. c. disposable income determines consumption. d. All of the above e. None of the above
Economics
Inflation will
A) increase aggregate demand. B) increase the quantity of real GDP demanded. C) decrease aggregate demand. D) decrease the quantity of real GDP demanded.
Economics