Which of the following is NOT related to the government's political function of income redistribution?
A) providing money transfer payments
B) excise tax on cigarettes
C) Social Security
D) in-kind transfers
Answer: B
Economics
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Normal profit is a(n) ________ cost because ________
A) implicit; it represents the cost of not running another firm B) explicit; a firm must pay income taxes on its profit C) implicit; it represents the cost of economic depreciation D) accounting; wages are considered an explicit cost E) depreciation; the equipment the firm owns wears out over time
Economics
All of the following factors came together in 2007-09 to cause a sharp drop in consumer spending EXCEPT
A) asset pyramid. B) the end of the housing price bubble. C) stock market crash. D) increase in household liabilities.
Economics