The Table Below Includes Data for a One-Year Period Required

question 80

Multiple Choice

The table below includes data for a one-year period required to calculate GDP from the income side for a teeny-tiny economy. TABLE 20-4 Refer to Table 20-4.When calculating GDP from the income side,we need to add together the following items from the data provided:

• A)interest and investment income,business profits,depreciation,indirect taxes less subsidies.
• B)wages and salaries,business profits,indirect taxes less subsidies.
• C)investment expenditure,consumption expenditure,net exports.
• D)interest and investment income,business profits,depreciation.
• E)wages and salaries,interest and investment income,business profits,depreciation,indirect taxes less subsidies.

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Definitions:

Uncontrollable Expenses

Uncontrollable expenses are costs that cannot be changed or influenced in the short term by the actions of managers or individuals within the organization.

Joint Cost

A cost that is incurred in producing multiple products where the costs cannot be easily separated for each product produced.

Product Cost

The total of direct materials, direct labor, and manufacturing overhead expenses incurred in producing a product.

Differential Cost

The difference in total cost that will result from selecting one alternative over another.