Economic profit is
A. Greater than accounting profit by the amount of explicit cost.
B. Less than accounting profit by the amount of explicit cost.
C. Less than accounting profit by the amount of implicit cost.
D. Greater than accounting profit by the amount of implicit cost.
Answer: C
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Women typically earn less than men, even in the same occupation. Which of the following is an explanation for this discrepancy?
A) Women tend to take riskier jobs and earn compensating wage differentials. B) Women have, on average, less workforce experience than men of the same age. C) Women do not work as hard as men because of cultural influences. D) Women are, on average, less motivated than men and therefore tend to avoid taking on more responsibilities.
The two main determinants of money demand are
A) GDP and the money supply. B) aggregate supply and aggregate demand. C) interest rates and income. D) the inflation rate and the money supply.