One of the Most Important Determinants of Accelerated Economic Growth

question 124

Multiple Choice

One of the most important determinants of accelerated economic growth is:

• A)​relaxed property rights.
• B)​an increase in population.
• C)​a high level of savings.
• D)​an increased rate of consumption.

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Definitions:

Salaries Expense

The expense reported on the income statement representing the total amount paid to employees for services rendered during a specific period.

Payroll Register

A record that summarizes wages, deductions, and net pay for all employees for each pay period.

Payroll Taxes

Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Liabilities

Financial obligations or debts that a business needs to settle in the future as a result of past transactions or events.