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:

Rapport

A positive relationship characterized by mutual understanding, trust, and agreement between people.

Empathy

The ability to understand and share the feelings of another person from their perspective.

Afferent

Relating to or denoting nerve fibers that carry impulses toward the central nervous system.

Apathy

A state of indifference, or the lack of interest, enthusiasm, or concern towards emotional, social, or physical life.