Which of the Following Is a Macroeconomic Concept

question 144

Multiple Choice

Which of the following is a macroeconomic concept?

• A) The income per capita of a country
• B) The average revenue earned by a firm
• C) The degree of responsiveness of the quantity supplied of a good to its price
• D) The total satisfaction derived from the consumption of a good

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Definitions:

Depreciation Expense

The allocated portion of an asset's cost expensed each year over its useful life to account for its wear and tear, obsolescence, or decline in value.

End-Of-Period Spreadsheet

A tool used in accounting to compile all balances and adjustments of an accounting period before preparing the final financial statements.

Retained Earnings

The portion of net income that is held by a company and not distributed to shareholders as dividends, used for investment or debt repayment.

Revenues

The complete earnings derived from transactions involving goods or services that are fundamental to an organization's core functions.