What Is a Difference Between the Profit Margin and the Gross

question 12

Multiple Choice

What is a difference between the profit margin and the gross profit rate?

• A)None, these are interchangeable terms.
• B)The gross profit rate is computed by dividing net sales by gross profit and the profit margin is computed by dividing net sales by net income.
• C)The gross profit rate will normally be higher than the profit margin ratio.
• D)A profit margin of 7% means that 7 cents of each net sales dollar ends up in net income and a gross profit rate of 7% means that the cost of the goods were 7% of the selling price.

Assess the significance of social media policies and employee rights under the NLRA.

Understand the role and responsibilities of the National Labor Relations Board (NLRB) in conducting union elections and enforcing the NLRA's unfair labor practice provisions.

Recognize the protection of workers' rights under U.S. labor laws, including the right to unionize and engage in collective activities.

Identify the legal protections for employees engaging in union activities and the prohibition of employer interference or retaliation.

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Definitions:

Total Surplus

The combined total of consumer and producer surplus, signifying the overall net advantage to society derived from a market transaction.

Tariff Revenue

Income that a government earns from imposing tariffs on imported goods.

Domestic Consumers

Individuals or households that consume goods and services within their own country, as opposed to purchasing imported goods.

Domestic Producers

Entities within a country that produce goods and services for the local market.