Productivity Can Be Increased by

question 41

Multiple Choice

Productivity can be increased by

• A)improving the education of workers.
• B)raising union wages.
• C)raising minimum wages.
• D)restricting trade with foreign countries.

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Definitions:

Income Summary

A temporary account used in accounting to transfer revenues and expenses, summarizing the net income or loss for a period before transferring the balance to retained earnings.

Owner's Capital

The amount of equity in a company that is directly attributable to the owner(s), representing their stake in the company’s assets after liabilities have been subtracted.

Revenue

Income derived from the core business activities of a company, specifically through selling products or services.

Net Income

The residual financial benefit a company holds after reducing total income by all expenditures and tax payments.