Internal costs are
A) costs borne solely by the individuals who incur them.
B) costs borne by people in the same society as those who incur them.
C) costs borne by people working in the firm that incurs them.
D) all costs incurred in the marketplace.
A
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In general, the less elastic the resource supply, the less the economic rent as a proportion of total earnings
Indicate whether the statement is true or false
Advocates for a structural solution to the Great Recession argued that:
A. government should cut taxes across the board to stimulate demand for goods and services. B. firms should be allowed to go bankrupt, allowing the economy to correct for resource misallocations. C. firms in financial distress should be taken over by the government and run for the public good. D. massive public works projects should be implemented to produce public capital, keep people employed, and help workers maintain job skills.