The division of the fiscal imbalance between the current and future generations, assuming that the current generation will enjoy the existing levels of taxes and benefits, is called __________ imbalance.

When you make a routine, everyday decision it is called

a. habit b. programmed c. nonprogrammed d. geocentric

Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is economic profit for Tommy's Teddy Bears?

A) $250,000 B) $300,000 C) $500,000 D) $1.35 million