As a Result of a Successful Attempt by Government to Cut

question 119

Multiple Choice

As a result of a successful attempt by government to cut the economic pie into more equal slices,

• A)the pie gets larger,and there will be more pie overall.
• B)the pie gets smaller,and there will be less pie overall.
• C)it increases the reward for working hard,resulting in people producing more goods and services.
• D)those who earn more income pay less in taxes.

---

Definitions:

Building

The physical structure intended for housing, manufacturing, or any other commercial or industrial activity.

Electric Bill

A periodic charge for the use of electrical energy provided by a utility company or supplier.

Understated Assets

Occurs when the book value of assets is reported at less than their actual value on the financial statements, potentially misleading stakeholders.

Net Income

The profit of a company after subtracting all expenses from all revenues, indicating overall earnings performance.