Which of the Following Is NOT an Example of Explicit

question 97

Multiple Choice

Which of the following is NOT an example of explicit costs?

• A)Wages paid to workers
• B)Personal savings of the owner invested in the firm
• C)Salaries paid to management
• D)Office space rent

---

Definitions:

Family Farms

Small-scale farming operations owned and operated by a single family, often passed down through generations, focusing on self-sufficiency or local markets.

Federal Government

The federal government is the national government of a federation, responsible for national affairs, and typically characterized by a division of powers with regional governments.

Recession

An interval of economic deceleration, involving a fall in business and industrial activities, often recognized by a drop in GDP across two sequential quarters.

Sharp Recession

A severe and rapid downturn in economic activity.