You Have a Small Business That Makes $50,000 Accounting and Economic

question 46

Multiple Choice

You have a small business that makes $50,000 accounting and economic profit for you. As a disabled person, you must work at home and you did not have other opportunities until your neighbor offers you a job you like equally well for $50,000 and you can do it at home. This means

• A)your economic profit has gone down and your accounting profit has gone up.
• B)both your accounting and economic profit have gone down.
• C)both your accounting and economic profit have gone up.
• D)your economic profit has gone down and your accounting profit has stayed the same.

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Definitions:

Autonomic Nervous

Refers to the part of the nervous system that controls involuntary bodily functions, including heart rate, digestion, and respiratory rate.

Peripheral Nervous System

The part of the nervous system consisting of the somatic nervous system and the autonomic nervous system.

Cognitive Appraisal Theory

A theory in psychology that describes how personal interpretation of a situation and its relevance to the individual affects their emotional response.

Cannon-Bard Theory

A theory of emotion that argues emotions and physiological reactions such as sweating and trembling, occur simultaneously following a stimulus, rather than the emotion being a result of the physiological reactions.