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What is the difference between accounting profit and economic profit?
Accounting Profit:
The accounting profit of a business is the revenue of business minus the explicit costs and depreciation.
Economic Profit:
The economic profit of a business is the revenue of business minus the opportunity cost of its resources. This is frequently less than the accounting profit.
In the long run, imports will most likely be paid for with: a. Aexports. b. The sale of real and financial assets. c. the extension of credit. d. higher domestic unempl
How can we answer in Economic terms this questions: Why should the government consider to increase tax on cigarette
Kermit is considering purchasing a new computer system. The purchase price is $106,430. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compo
When did mortgage? Default and housing foreclosure rates begin to rise rapidly? When did the economy go into recession? Was there a causal relationship between the two? Discuss.
#question.WHAT IS GDP AND DIFFERENT PRICE LEVEL IN SHORT RUN?.
While referring to the "EYE on YOUR LIFE" section on page 235 of the textbook, and the economic concepts you have accumulated during our course, consider the trade policies that se
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Inflation (RPI) - another imperative channel. Oil is a necessity for the UK, and is price inelastic therefore one can analyse the correlation between a price shock and inflation. I
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