Use the Following to Answer Questions: Table: Components of GDP

question 51

Multiple Choice

Use the following to answer questions: Table: Components of GDP $$\begin{array} { l r } \hline \text { Private investment } & \$ 1,640 \text { billion } \\\text { Government spending } & 2,872 \text { billion } \\\text { Profits } & 1,565 \text { billion } \\\text { Consumption spending } & 9,913 \text { billion } \\\text { Wages } & 3,574 \text { billion } \\\text { Exports } & 1,520 \text { billion } \\\text { Imports } & 1,890 \text { billion } \\\hline\end{array}$$
-(Table: Compo?nents of GDP) Use the data in this table to calculate the contribution of rent and interest income to GDP.

• A) $6,032 billion
• B) $8,916 billion
• C) $10,806 billion
• D) $14,380 billion

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Definitions:

Total Cost of Ownership

Encompasses the comprehensive assessment of the direct and indirect expenses associated with acquiring and operating a product or system over its entire lifespan.

Acquisition Time

The duration it takes from recognizing a need for goods or services until they are fully delivered and operational.

Activity-Based Costing

An accounting method that assigns costs to products or services based on the activities they require.

Total Cost of Ownership

An estimate of all direct and indirect costs associated with acquiring, operating, and maintaining a product or system over its entire lifecycle.