Multiple Choice
How do economists view profits?
A) Profits are an asset the business holds.
B) Profits are one of the costs paid to a factor of production.
C) Profits are guaranteed as long as a firm operates ethically.
D) The firm's profit equals the sum of all payments to the 5 factors of production.
Correct Answer:
Verified
Correct Answer:
Verified
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Q196: All of the following are included in
Q197: Income earned by the factors of production
Q198: When GDP and other national income accounts
Q199: The values of variables such as GDP
Q201: When one converts nominal GDP to real
Q202: Many economists argue that real GDP is
Q203: The measurement system used by the U.S.
Q204: Which of the following is included in
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