Identify the Truthfulness of the Following Statements

question 55

Multiple Choice

Identify the truthfulness of the following statements.
I. A firm can earn a positive accounting profit but a negative economic profit.
II. Opportunity cost is included in the definition of economic profit but not in the definition of accounting profit.

• A) Both I and II are true.
• B) Both I and II are false.
• C) I is true; II is false.
• D) I is false; II is true.

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Definitions:

NLRB

The National Labor Relations Board is an independent agency of the U.S. government responsible for enforcing U.S. labor law in relation to collective bargaining and unfair labor practices.

NLRA Certification Process

The procedure by which the National Labor Relations Board (NLRB) certifies a labor union as the bargaining representative for a group of workers.

Employer Violators

Businesses or employers who fail to comply with labor laws and regulations.

Anti-union Campaigning

Activities undertaken by employers or other entities to discourage workers from joining or forming unions.