What Technological Development Gave the Greatest Boost to the Economies

question 23

Multiple Choice

What technological development gave the greatest boost to the economies of the grasslands of Australia,New Zealand,and the South American pampa?

• A) steamships and refrigeration
• B) telegraphy
• C) pumping technology for mining
• D) new plowing technology

Comprehend the implications of changes in GDP and real GDP on the economy.

Recognize the factors excluded from GDP calculation.

Grasp the concept of GDP deflator and its impact on evaluating economic performance.

Understand the calculation methods of GDP, including the value-added approach.

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Definitions:

Job-Order Costing System

A cost accounting system in which costs are assigned to specific jobs or orders, used in industries where goods or services are produced to order.

Machine-Hours

A measure of production time which quantifies the number of hours a machine is in operation.

Overhead Applied

The portion of overhead costs that are allocated to products or cost objects based on a predetermined overhead rate.

Customizing Department

A segment within a manufacturing or service company dedicated to modifying products or services to meet specific customer requests or needs.