Labor Cost Per Unit Is Also Referred to as ________

question 174

Short Answer

Labor cost per unit is also referred to as ________.

---

Definitions:

GDP

A country's economic activity is measured by its Gross Domestic Product, which aggregates the total value of goods and services made during a particular time.

Net Investment

The total amount spent on new capital assets minus the depreciation on existing capital assets.

Gross Investment

The total amount of investment in the economy, including investments in the replacement and acquisition of capital assets before accounting for depreciation.

Depreciation

Depreciation is the accounting process of allocating the cost of a tangible or physical asset over its useful life, reflecting the loss of value over time.