1 Improvements in Technology

question 234

Multiple Choice

1. Improvements in technology. 2. Increases in the supply (stock) of capital goods.
3) Purchases of expanding output.
4) Obtaining the optimal combination of goods, each at least-cost production.
5) Increases in the quantity and quality of natural resources.
6) Increases in the quantity and quality of human resources.
Use the accompanying list to answer the following question. As distinct from the demand and
Efficiency factors of economic growth, the supply factors of economic growth are

• A) 2, 5, and 6 only.
• B) 2, 4, 5, and 6 only.
• C) 1, 2, 5, and 6 only.
• D) 1, 3, and 4 only.

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Definitions:

Dishonored Note

A dishonored note is a promissory note that has not been paid by the maker at its maturity date.

Direct Write-Off Method

An accounting method where bad debts are charged against income at the time they are deemed irrecoverable, rather than being anticipated in advance.

Interest

Interest is the cost paid for borrowing money, typically expressed as a percentage of the amount borrowed over a certain period of time.

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditure to the appropriate period.