Which of the Following Best Describes the Interest Paid on a Bank

question 61

Multiple Choice

Which of the following best describes the interest paid on a bank loan by a local ice cream producer?

• A) It is not considered by an economist when calculating the cost of running the ice cream business.
• B) It is an implicit cost for the ice cream producer.
• C) It is an explicit cost for the ice cream producer.
• D) It is not considered by an accountant when calculating the cost of running the ice cream business.

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Definitions:

Rapid

Quickly occurring or moving at a fast pace.

Repression

A defense mechanism where an individual unconsciously blocks unpleasant memories, thoughts, or feelings from their awareness.

Freud

An Austrian neurologist named Sigmund Freud created psychoanalysis, a technique for addressing mental disorders through conversations between a therapist and their patient.

Torture

The act of inflicting severe pain or suffering on someone, often to punish, coerce, or gather information.