Which of the Following Is Not Another Term for Relevant

question 2

Multiple Choice

Which of the following is not another term for relevant costs?

• A)differential costs
• B)incremental costs
• C)opportunity costs
• D)avoidable costs

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Definitions:

Friedman And Phelps

Economists Milton Friedman and Edmund Phelps, known for their work on the natural rate of unemployment and the expectations-augmented Phillips curve.

Natural Rate

The long-term equilibrium rate of unemployment or economic output, unaffected by short-term fluctuations.

Constant

A fixed value or term that does not change in mathematical equations or scientific experiments.

Friedman And Phelps

Economists who contributed to the understanding of the relationship between inflation and unemployment, challenging the Phillips Curve concept.