Economists Would Classify the New York Mets as a Firm

question 2

True/False

Economists would classify the New York Mets as a firm.

---

Definitions:

Double-Declining-Balance Rate

A method of accelerated depreciation that applies a constant rate, which is double the straight-line rate, to the declining book value of an asset each year.

Straight-Line Rate

A method of calculating depreciation of an asset, dividing its cost by the number of years in its useful life.

Depreciation Expense

The structured spreading of the expense associated with a tangible asset across its useful life.

Double Declining-Balance Method

An accelerated depreciation method that computes an asset's depreciation at double the rate of the straight-line method over its useful life.