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The best definition of profit

The best definition of profit is:

1.     Total assets minus total liabilities.

2.     Total sales minus total taxes.

3.     Total revenues minus total costs.

4.     Total sales minus total wages.
 
_______________is an increase in the total output of a country over time. What do you understand by “Great Depression”?

Which combination of policies would be the mostexpansionary? 

1.     An increase in government spending and taxes.

2.     A decrease in government spending and taxes.

3.     An increase in government spending and a decrease in taxes.

4.     A decrease in government spending and an increase in taxes.

Which of the following would be an example of a price floor?

1. Controls on apartment rent in major cities.

2. Limiting interest charged by credit card companies.

3. Price controls during World War II.

4. Price supports for agricultural products.

Apr 26 2018 View more View Less

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