For a Hypothetical Economy in a Given Year,consumption Equaled $372,investment

question 12

Multiple Choice

For a hypothetical economy in a given year,consumption equaled $372,investment equaled $126,government purchases equaled $184,goods exported equaled $75,and goods imported equaled $84.What was the value of GDP?

• A)$841
• B)$682
• C)$673
• D)$691
• E)Not enough information is given.

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Definitions:

Company Profits

The financial gains made by a company after all expenses, taxes, and costs have been subtracted from total revenue.

Overhead Costs

Expenses associated with running a business that cannot be directly tied to a specific product or service, such as rent, utilities, and management salaries.

Cost Driver

A factor that causes the cost of an activity or a process to change.

Activity Drivers

Factors that influence the cost of business activities by determining the level of effort or resources required.