Which of the Following Statements Is False

question 177

Multiple Choice

Which of the following statements is false?

• A)An implicit cost is a nonmonetary opportunity cost.
• B)Economic costs include both accounting costs and implicit costs.
• C)An explicit cost is a cost that involves spending money.
• D)Economists consider all costs to be implicit costs.

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Definitions:

Pyroclastic Flows

Fast-moving currents of hot gas and volcanic materials (such as ash and rock fragments) that flow down the slopes of a volcano during an explosive eruption.

Mudflows

Rapid flows of water-saturated earth material, primarily composed of mud and often triggered by heavy rains or volcanic activity.

River Valley

a long, narrow region carved by river erosion, often surrounded by hills or mountains.

Krakatau

An Indonesian volcanic island known for its catastrophic eruption in 1883, significantly impacting global climate and producing loud noises heard thousands of miles away.