Double-entry bookkeeping implies that:
A) profits cannot be negative because profit equals the value of final output less costs.
B) profits fill the gap between the sum of employee compensation, rents and interest on the one hand and the value of final output on the other hand.
C) aggregate income net of profits is less than the value of final output because profit can add or take away from final output.
D) aggregate income net of profits is greater than the value of final output because profit can add or take away from final output.
Correct Answer:
Verified
Q99: Payments for loans by households to firms
Q100: If substantially more foreign money is invested
Q101: The key to the equality of output
Q102: The $400 dividend check a stockholder receives
Q103: A price index in its base year:
A)is
Q105: If there are only two goods in
Q106: A price index in years beyond the
Q107: Payments to the owners of firms are
Q108: According to the aggregate accounting identity:
A)GNP equals
Q109: Given the following information, aggregate income
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents