The "Bridge to Nowhere

question 23

Multiple Choice

The "Bridge to Nowhere"

• A) is a fictional account of drawbridge that was made out of gold coins collected from Roman tax collectors.
• B) was a bridge proposed to be built in Alaska that would have cost taxpayers $320 million, despite the availability of a ferry service that charged $6 per automobile.
• C) refers to the inherent difficulty for Democrats and Republicans to bridge their differences with bipartisan legislation.
• D) was an overturned law that required bridges to be paid for by people who benefited the most from their use.

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Definitions:

Implicit Costs

Costs that represent the opportunity costs of using resources that the firm already owns, not involving direct monetary payment.

Explicit Costs

Direct, out-of-pocket expenses incurred in conducting an activity or business operation.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the financial gain in an economic activity.

Accountant

A professional who is responsible for keeping and interpreting financial records, ensuring accuracy and compliance with laws.