Gross Domestic Product Is an Economic Aggregate That Represents the

question 81

Multiple Choice

Gross Domestic Product is an economic aggregate that represents the

• A)potential output of a country.
• B)total product of a nation's economy.
• C)total income earned from all sales.
• D)total product that a country exports.

---

Definitions:

Profit Margin

Profit Margin is a financial metric that measures the percentage of revenue remaining after all expenses have been deducted from sales.

Net Income

The total earnings of a company after all expenses and taxes have been deducted from total revenue, indicating the company’s profitability.

Net Sales

The net income from goods or services sold, after deducting returns, allowances, and discounts.

Accrual Basis

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.