Which of the Following Is NOT Included in Operating Income

question 25

Multiple Choice

Which of the following is NOT included in operating income?

• A)Cost of goods sold
• B)Sales
• C)Taxes
• D)Operating expenses

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Definitions:

Unemployment

The situation of being without a job, while actively looking for one and willing to work.

Short-Run Phillips

A concept that shows an inverse relationship between the rate of unemployment and the rate of inflation in an economy over a short period of time.

Inflation Rate

The percentage increase in the price level of goods and services in an economy over a period of time.

Unemployment Rate

The percentage of the labor force that is unemployed.