« previous next »

Author Question: Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The ... (Read 129 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?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

pH Values of Some Familiar Substances pH Values of Some Familiar Substances
Periodic Table Tattoo Periodic Table Tattoo
Juan Gris, The Table. Juan Gris, The Table.
The Periodic Table of Elements. The Periodic Table of Elements.
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Table Table
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library