To Calculate GDP It Is Necessary to Add Up the Market

question 32

Multiple Choice

To calculate GDP it is necessary to add up the market value of all the_{--------------------} produced within a country during a year.

• A)goods but not services produced
• B)intermediate goods and services produced
• C)goods and services produced
• D)intermediate goods and services produced and all the final goods and services produced
• E)final goods and services produced

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Definitions:

Unfavorable Effect

Occurs when actual costs exceed budgeted costs, or actual revenues are less than expected, negatively impacting financial performance.

Trained Workers

Personnel who have received specific training to perform their job duties effectively and efficiently.

Variances

Differences between planned or standard costs and actual costs, analyzed to understand and manage costs within financial planning.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected (or standard) cost of those materials.