In an Interview an Economist States,"This Problem Should Be of Greater

question 145

Multiple Choice

In an interview an economist states,"This problem should be of greater concern to the federal government." We can explicitly put this statement in the category of

• A) microeconomics.
• B) macroeconomics.
• C) positive economics.
• D) normative economics.

---

Definitions:

Debit Column

A column in financial accounting used to record entries that decrease liabilities and increase assets or expenses.

Credit Column

A section on the right side of an accounting ledger used to record increases in liability, equity accounts, and revenue, or decreases in assets and expense accounts.

Ledger

A comprehensive collection of a company's accounts, where all transaction data from the journal is summarized and classified.

Unearned Rent

Income received by a landlord for rent that has not yet been earned because the rental period has not occurred.