For Computing GDP, the Official Measure of the Value of All

question 126

Multiple Choice

For computing GDP, the official measure of the value of all goods produced during a period for use in the production of other goods is called:

• A) personal investment expenditure.
• B) a capital consumption allowance.
• C) a transfer payment.
• D) gross private domestic investment.

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Definitions:

Affirmative Action

Represents a set of steps taken by an organization to actively seek qualified applicants from groups underrepresented in the workforce.

Conflict

A situation where individuals or groups have opposing interests, beliefs, or needs.

Productivity

Is an economic measure of efficiency that summarizes and reflects the value of the outputs created by an individual, organization, industry, or economic system relative to the value of the inputs used to create them.

Ethnocentrism

The act of judging another culture solely by the values and standards of one's own culture.