Which of the Following Is Usually the Largest Fixed Expense

question 53

Multiple Choice

Which of the following is usually the largest fixed expense for a new vehicle?

• A)Insurance
• B)Gasoline
• C)Registration, license, and fees
• D)Parking
• E)Depreciation

Know the steps of the scientific method in economics.

Understand that economic models require simplifications due to the complexity of reality.

Identify the characteristics of a good economic theory.

Understand the concept of rational self-interest in economic decision-making.

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Definitions:

Bias

Bias is a tendency or inclination, often unconscious, towards or against something or someone, which can influence judgement or behavior without objective reasoning.

Fairness Doctrine

A former policy of the Federal Communications Commission that required broadcasters to present controversial issues of public importance in a manner that was, in the Commission’s view, honest, equitable, and balanced.

Right of Rebuttal

The opportunity to defend oneself or respond to criticisms or accusations, often in a legal or public forum.

Communications Decency Act

The Communications Decency Act is a section of United States federal law designed to regulate pornography and protect minors from inappropriate content on the internet, while also safeguarding the free speech rights of online platforms.