For the Purpose of GDP Accounting, Consumption Expenditures Include

question 25

Multiple Choice

For the purpose of GDP accounting, consumption expenditures include

• A) only nondurable goods.
• B) only durable goods.
• C) both nondurable goods and services.
• D) durable goods, nondurable goods, and services.

Know the agencies involved and methods used for economic development in DVCs.

Understand the role and impact of government-provided foreign aid to developing countries.

Comprehend the effects and efficiency of various forms of capital assistance like unconditional and conditional cash transfers to the economic development of Developing and Less Developed Countries (DVCs).

Identify the impacts of international policies and practices such as direct foreign investment, state industry privatization, and agricultural subsidies on DVC economies.

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Definitions:

Predetermined Classifications

Pre-established categories used to sort or organize individuals or items based on specific criteria.

External Equity

The concept of ensuring compensation and benefits offered are competitive with those in the external job market to attract and retain talent.

Pay Equity

The principle of compensating employees equally for jobs requiring comparable skills, effort, and responsibility, without discrimination on the basis of gender, ethnicity, or other irrelevant factors.

Internal Equity

The practice of ensuring fairness and consistency in pay structures for employees within an organization, based on their roles, experience, and performance.