Which of the Following Is NOT an Explicit Cost

question 187

Multiple Choice

Which of the following is NOT an explicit cost?

• A) taxes
• B) rent
• C) wages
• D) opportunity cost of using an owner's savings

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Definitions:

Developed Countries

Nations with advanced economic systems, higher standards of living, and well-established infrastructures, often characterized by high Gross Domestic Product (GDP) per capita.

Balance-of-Payment Deficits

A situation where the total amount of money a country spends on foreign trade is greater than the amount it earns from such trade.