Economic Growth Depends Upon Which of the Following

question 134

Multiple Choice

Economic growth depends upon which of the following?
i.Increasing the quantity of labor
ii.Lowering the prices of goods and services
iii.Advancing technology

• A) i only
• B) ii only
• C) iii only
• D) i and iii
• E) i, ii, and iii

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Definitions:

Profit Margin

A financial metric that measures the amount of net income earned with each dollar of sales by calculating the percentage of revenue that exceeds the cost of goods sold.

Net Income

The net income of a company, which is the remaining amount after deducting all costs and taxes from the total revenue.

Sales

The revenue a company earns from selling goods or services in its normal operations.

Operating Expenses

Costs associated with running a business's core operations on a daily basis, excluding costs of goods sold.