If the Money Store earns a normal profit this year, its
a. economic profit is equal to its accounting profit
b. economic profit is zero
c. economic profit is equal to the average accounting profit in other industries
d. accounting profit is zero
e. accounting profit is less than its economic profit
B
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Gross domestic product
A) includes all the goods and none of the services produced in an economy in a given time period. B) measures the value of the aggregate production of goods and services in a country during a given time period. C) measures the value of labor payments generated in an economy in a given time period. D) is generally less than federal expenditure in any time period.
The tools, instruments, machines, and buildings that people use to produce goods and services are called human capital
Indicate whether the statement is true or false