To Estimate the Value of U

question 130

Multiple Choice

To estimate the value of U.S.GDP from U.S.GNP, we must

• A)add the value of output produced by U.S.residents and sold abroad.
• B)add the income earned from the rest of the world by U.S.residents and subtract payments made by U.S.residents to the rest of the world.
• C)subtracting the value of output produced by U.S.residents and sold abroad.
• D)subtract the income earned from the rest of the world by U.S.residents and add payments made by U.S.residents to the rest of the world.

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Definitions:

Budgeting

The process of creating a plan to spend your money, allowing an individual or organization to determine in advance whether they can afford the necessary expenditures.

Strategic Plans

Strategic plans are comprehensive outlines detailing an organization's goals, priorities, and actions designed to achieve long-term objectives.

Annual Operating Plans

Detailed plans that outline the goals, strategies, and activities for an organization for the upcoming fiscal year.

Stable Industries

Sectors of the economy known for consistent demand and steady growth, often less affected by economic cycles.