When Considering Imports and Exports, Economists Include the ________ as a Component

question 135

Multiple Choice

When considering imports and exports, economists include the ________ as a component of the GDP.

• A) total imports
• B) total exports
• C) net exports
• D) gross exports

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Definitions:

Selling and Administrative Expenses

Costs related to the selling of products and the general administration of a business.

Differential Income

The difference in income between two alternative decisions or scenarios, used in managerial decision-making to determine the better financial option.

Variable Cost

Expenses that change in proportion to the amount of goods produced or the volume of sales.

Differential Analysis

A financial technique used to compare the costs and benefits of alternative business decisions.