« previous next »

Author Question: Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The ... (Read 137 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?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

The Periodic Table (Part 2) The Periodic Table (Part 2)
Periodic Table Periodic Table
Example of the Index to External Causes. Example of the Index to External Causes.
From Farm to Consumer From Farm to Consumer
Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ... Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a ...
table table
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library