Asked by Amanda Jones on Apr 24, 2024
Verified
Since 1900, the relative share of "wages & salaries, plus proprietors' income" in the total income earned by Americans in a typical year has been about
A) 20 percent.
B) 50 percent.
C) 80 percent.
D) 95 percent.
Proprietors' Income
Earnings received by owners of unincorporated businesses from their business activities.
Total Income
The combined earnings from wages, investments, and other sources before any deductions are made.
Wages & Salaries
Payments made to employees for their labor or services, typically on an hourly or annual basis.
- Understand the part entrepreneurs play in generating economic profits and the activities they typically refrain from.
Verified Answer
FL
Faith Little8 days ago
Final Answer :
C
Explanation :
The relative share of "wages & salaries, plus proprietors' income" in the total income earned by Americans in a typical year has been about 80 percent, reflecting the significant portion of income that comes from direct labor and small business ownership.
Learning Objectives
- Understand the part entrepreneurs play in generating economic profits and the activities they typically refrain from.
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