In Recent Years,economists Have Come to Rely More on the Establishment

question 175

True/False

In recent years,economists have come to rely more on the establishment survey rather than the household survey to analyze current labor market statistics.

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Definitions:

Gross Sales

The total sales revenue of a company without deducting any sales returns, allowances, or discounts.

Sales Returns and Allowances

Transactions where customers return goods or receive discounts due to issues, reducing total sales revenue.

Contra-Revenue Accounts

Accounts that are used to record reductions in gross revenue, such as sales returns and allowances, and discounts.

Sales Discount

A reduction in price given by a seller to a buyer, often to encourage prompt payment.