A. Implicit cost
B. Explicit cost
C. Net cost
D. Total cost
Related Mcqs:
- An involuntary payment of money to govt. by a household or firm for which the household or firm receives no good or services directly in return ?
A. Tariff
B. Tax
C. Tacit collusion
D. Subsidy - Total number of monetary units received by a firm from the sale of a product is called___________________?
A. Total revenue
B. Nominal profit
C. Both
D. None - A payment of money or goods & services by a govt. to a household or firm for which the payer receives no good or service directly in return______________?
A. Tax
B. Tariff
C. Transfer payment
D. Subsidy - A payment of funds by a govt. firm or house hold for which it receives no goods or services in return?
A. Subsidy
B. Tax
C. lump-sum-tax
D. None - Amount of other products which must be foregone or sacrificed to obtain 1 unit of a specific good is called its______________?
A. Opportunity cost
B. Real cost
C. Economic cost
D. None - The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?
A. Value added
B. Value of money
C. Vertical range
D. None - To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?
A. Law of diminishing return
B. Say’ law
C. Law of diminishing marginal utility
D. Say’ law - Major financial institution responsible for issuing currency, managing foreign reserves implementing monetary policy and providing banking service to the govt. and commercial banks ?
A. Central Bank
B. State Bank
C. Both
D. None - The payment for the use of borrowed funds _____________?
A. Interest
B. Loan
C. Both
D. None - A debit which monitory value, an amount awed by a firm or an individual___________________?
A. Lockout
B. Logrolling
C. Liability
D. None
