Author Question: Economic profit is: a. always less than zero. b. never less than accounting profit. c. less than ... (Read 38 times)

londonang · **on:** Jun 30, 2018

Economic profit is:
a. always less than zero.
b. never less than accounting profit.
c. less than accounting profit if implicit costs are zero.
d. less than accounting profit if implicit costs are greater than zero.

Question 2

An example of a flow variable in economics is:
a. the total amount of bank loan taken by Emily.
b. the value of an apartment owned by Jerome.
c. the price of an antique painting used to decorate an office.
d. the earnings of Malaya from piano classes each month.
e. the total value of the U.S. treasury bonds held by China.