According to W

question 16

Multiple Choice

According to W.Arthur Lewis's surplus labor model,inequality is not just a necessary effect of economic growth; it is

• A) the cause of human suffering and exploitation.
• B) a cause of growth.
• C) an unintended consequence of modern developmental economics.
• D) the leading cause of falling wages.

---

Definitions:

Accrued Interest

Interest that has been earned but not yet received or recorded in the accounts.

Interest Payable

A liability account showing the amount of interest expense that has been incurred but not yet paid as of the balance sheet date.

Equity Method

An accounting technique used to record an investor's earnings in proportion to their ownership stake in a company.

Periodic Net Income

Periodic net income refers to the total earnings of a company, after accounting for all expenses and taxes, over a specific financial reporting period.