For Computing GDP, the Official Measure of the Value of All

question 126

Multiple Choice

For computing GDP, the official measure of the value of all goods produced during a period for use in the production of other goods is called:

• A) personal investment expenditure.
• B) a capital consumption allowance.
• C) a transfer payment.
• D) gross private domestic investment.

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Definitions:

Marginal Costs

The additional cost incurred when producing one more unit of a particular good or service.

Trading Partner

A country or organization that engages in import or export transactions with another entity, indicating a regular commercial relationship.

Manufacturing Jobs

Positions in the production of goods within an industrial setting, often involving machinery and labor.

Foreign Trade

The exchange of goods, services, and capital between countries or territories, involving imports and exports.