Which of the Following Statements Is False

question 135

Multiple Choice

Which of the following statements is false?

• A)Capital income is made up of profits, rental payments, and interest payments.
• B)Labor income is made up of wages, salaries, and fringe benefits.
• C)For purposes of measuring GDP, only net investment is counted.
• D)Labor income is greater than half of GDP.
• E)Net investment is the difference between gross investment and depreciation.

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Definitions:

Twelve or More Creditors

A situation where an individual or entity owes debts to twelve or more separate creditors, often relevant in bankruptcy contexts.

Voluntary Petition

A legal document filed by an individual or business entity requesting to declare bankruptcy under their own will.

Financial Statements

Official records that outline the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Credit Counseling

A service provided to individuals to help them manage their debt, improve their financial situation, and offer advice on budgeting and credit management.