Use the Following for Questions 163-168

question 36

Multiple Choice

Use the following for questions 163-168.
Exhibit: Johnson's Income and Expenditures
Quantity Purchased per Month

-(Exhibit: Johnson's Income and Expenditures) For Johnson, pizzas are a(n) :

• A) inferior good.
• B) positive good.
• C) neutral good.
• D) normal good.

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Definitions:

Financial Statements

Reports that provide an overview of a company's financial condition, including the balance sheet, income statement, and cash flow statement.

Social Security Tax

A tax that funds the Social Security program, which provides benefits for retired workers, disabled individuals, and their dependents.

Fiscal Year-End

The completion of a one-year, or 12-month, accounting period, after which a company will prepare financial statements.

Employee Benefits

Non-wage compensation provided to employees in addition to their normal wages or salaries, including health insurance, pensions, and vacation.