« previous next »

Author Question: Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The ... (Read 143 times)

jjjetplane

  • Hero Member
  • *****
  • Posts: 556
on: Jun 29, 2018
Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The inflation rate for 2016 was equal to
 
  A) 215 percent. B) 21.5 percent. C) 8.0 percent. D) 3.9 percent.

Question 2

What is the difference between accounting cost and economic cost?
 
  What will be an ideal response?


Moriaki

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Accounting cost measures only the out-of-pocket costs of production. Economic cost includes both out-of-pocket costs and the full opportunity costs of all the factors of production. Economic cost includes a normal rate of return on capital.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

A portion of the periodic table of elements A portion of the periodic table of elements
Lab Values Lab Values
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
How to solve equations involving absolute values How to solve equations involving absolute values
Age-Standardized Suicide Rates (per 100 000 Population), Both Sexes, 2016 Age-Standardized Suicide Rates (per 100 000 Population), Both Sexes, 2016
Selected Broad Sense Heritability (H2) Values from Human Twin Studies Selected Broad Sense Heritability (H2) Values from Human Twin Studies
Video: Primate Evolutionary Tree Animation

For a complete list of videos, visit our video library