A Positive Economic Statement Simply Describes What Is

question 166

True/False

A positive economic statement simply describes what is.

---

Definitions:

Employee Salaries And Wages

Compensation paid to employees for their services, including both fixed salaries and hourly wages.

Planning Budget

A planning budget is a financial plan that estimates the revenue and expenses for a specific period, typically used as a guide for spending and saving.

Revenue

The total income generated by a business from its normal business operations, including sales of goods and services.

Planning Budget

A budget formulated at the beginning of the budgeting period that is based on planned operations and outputs.