A normal profit is defined as
A) total revenue minus explicit costs.
B) the same thing as accounting profit.
C) the return to entrepreneurshi
C
Economics
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The rational expectations hypothesis indicates that a monetary policy designed to alter real Gross Domestic Product (GDP) will fail unless
A) changes in the money supply are completely anticipated. B) labor unions have long-term contracts. C) the government's budget is not in deficit. D) changes in the money supply are unexpected.
Economics
Buying a cup of coffee with a dollar bill represents the use of money as a:
a. medium of exchange. b. unit of account. c. store of value. d. all of these.
Economics