Author Question: Normal profit is defined as a(n): a. foregone percent rate of return. b. opportunity profit. c. ... (Read 40 times)

formula1 · **on:** Jun 30, 2018

Normal profit is defined as a(n):
a. foregone percent rate of return.
b. opportunity profit.
c. implicit profit.
d. minimum necessary to keep a firm in operation.

Question 2

The economic policy based on the incorrect theory that a nation's economic objective should be to accumulate precious metals in the public treasury is called _____.
a. laissez-faire
b. deficit financing
c. socialism
d. mercantilism
e. capitalism