Asked by Spanky Dixon on May 22, 2024
Verified
Which statement is true?
A) Total profits (corporate pretax profits and proprietors' income) is about one third of GDP.
B) Profits,like rent and interest,are determined by supply and demand.
C) There is more agreement among economists about a theory of profit determination than a theory of interest rate determination.
D) Total profits (corporate pretax profits and proprietors' income) is about one sixth of GDP.
GDP
Gross Domestic Product; the total value of all goods and services produced over a specific time period within a country's borders, used as a broad measure of economic performance.
Corporate Pretax Profits
The earnings of a corporation before income taxes are deducted, reflecting the operational and financial performance of the company.
- Understand the importance of corporate and individual profits in the economic landscape.
- Ascertain the influence of supply and demand on several economic aspects, including profits, rents, and interest rates.
Verified Answer
UA
Usama AshrafMay 25, 2024
Final Answer :
D
Explanation :
Total profits (corporate pretax profits and proprietors' income) is about one sixth of GDP, as per the statement. The other options are either incorrect or unsupported by the given information.
Learning Objectives
- Understand the importance of corporate and individual profits in the economic landscape.
- Ascertain the influence of supply and demand on several economic aspects, including profits, rents, and interest rates.
Related questions
During the Great Recession of 2008,which of the Following Industries ...
In 2009 Total Profits (Corporate Pretax Profits and Proprietors;income)were Over ...
An Agricultural Economist Reports That Corn Prices Are Very High ...
Which Statement Is True ...
After the Housing Bubble Burst,consumer Confidence Plummeted and Housing Sales ...