« previous next »

Author Question: Refer to Table 9-5. Consider the following values of the consumer price index for 2015 and 2016. The ... (Read 128 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?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

The Periodic Table (Part 2) The Periodic Table (Part 2)
Index of seed size and hardiness prior to, during, and after drought. Index of seed size and hardiness prior to, during, and after drought.
Juan Gris, The Table. Juan Gris, The Table.
Checklist for Choosing a Massage Table Cont. Checklist for Choosing a Massage Table Cont.
Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ... Good body mechanics when facing the head or foot of the table. A. Head and back in alignment. B. ...
Wood coffee table Wood coffee table
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library