Which of the Following Do Most Economists Consider to Be

question 78

Multiple Choice

Which of the following do most economists consider to be the most basic measure of a nation's international transactions?

• A)balance on current account 
• B)balance on capital account 
• C)balance of merchandise trade 
• D)balance on long-term capital

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Definitions:

Taxable Income

The amount of income used to calculate how much tax an individual or a company owes to the government.

Total Tax

The combined amount of all taxes owed by an individual or corporation in a given year, including federal, state, and local taxes.

Retained Earnings

Retained earnings are the portion of a company's profits that is kept or retained within the business for reinvestment or to pay debt, rather than being distributed to shareholders as dividends.

Liability

A company's legal financial debts or obligations that arise during the course of business operations.