INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 59

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-A decrease in the gross domestic product would indicate that our economy is [growing | stagnating].

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Net Income

The earnings left for a firm after deducting expenses, taxes, and all other costs from the total income.

Fair Market Value

The price at which an asset would sell in a competitive auction setting, representing the value between a willing buyer and seller with neither being under any compulsion to buy or sell.

Stockholders' Equity

The portion of a company's assets that belongs to shareholders after debts and liabilities have been settled.