Two of the Three Pillars of Labor Productivity Growth Responsible

question 62

Multiple Choice

Two of the three pillars of labor productivity growth responsible for the changes in the United States after 1995 are technological change and

• A)labor force improvement.
• B)labor force growth.
• C)capital formation.
• D)consumption growth.

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Definitions:

Accounts Payable

An accounting entry representing an entity's obligation to pay off a short-term debt to its creditors or suppliers.

Notes Payable

A liability on a balance sheet representing promissory notes that a company must pay in the future.

Bad Debts Expense

The operating expense account that estimates the amount of credit sales that will probably not be collectible in a given accounting period when the Allowance method is used. For the direct write-off method, this account would be the actual amount written off.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that may not be collected.