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:

Elder Abuse

The maltreatment or exploitation of older individuals, which can be physical, emotional, financial, or neglectful in nature.

Supportive Networks

Social structures made up of individuals or organizations that provide practical or emotional support.

Caretakers' Stress

The emotional and physical strain experienced by individuals who provide care for others, such as elderly or disabled family members.

Binge Drinking

The consumption of an excessive amount of alcohol in a short period of time, often leading to acute intoxication and poor judgment.