Which of the Following Have Been Suggested as Sources of Economic

question 56

Multiple Choice

Which of the following have been suggested as sources of economic profit?

• A)exercise of monopoly power by firms 
• B)accepting a large degree of risk 
• C)successful innovation 
• D)All of the above are correct.

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Definitions:

Life Insurance Premiums

The payments made to an insurance company in exchange for life insurance coverage, which can sometimes be tax-deductible.

Standard Deduction

A fixed amount that reduces the income subject to tax, available to taxpayers who do not itemize deductions.

Dependent

A person who relies on another, usually a family member, for financial support and qualifies for certain tax benefits.

Part-Time Job

Employment with fewer hours per week than a full-time job, often offering less benefits and lower wage compared to full-time positions.