Philanthropic Responsibilities Reflect Expectations That Business Will Engage in Social

question 6

True/False

Philanthropic responsibilities reflect expectations that business will engage in social activities that are neither mandated by law nor generally expected of business in an ethical sense.

Recognize the structure and consequences of the national (federal) debt and public debt.

Analyze the influence of fiscal policy on economic stability, growth, and employment through government spending, taxation, and transfer payments.

Understand the relationship between fiscal policy actions (e.g., tax cuts, government spending) and their intended and unintended economic outcomes.

Distinguish between nondiscretionary and discretionary fiscal policy and their respective roles in economic management.

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Definitions:

Jeweler

A person or business that designs, makes, sells, and repairs jewelry and watches.

Clothing Store

A retail establishment that sells garments and apparel for individuals of all ages.

Housing Development

The process and business of developing land into residential properties, including homes and apartment buildings.

Profits

The financial benefit realized when revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.