The Difference Between GDP at Factor Cost and GDP at Market

question 83

Multiple Choice

The difference between GDP at factor cost and GDP at market prices is:

• A)wages.
• B)profit.
• C)interest.
• D)indirect taxes less subsidies.
• E)indirect taxes plus subsidies.

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Definitions:

Social Decisions

Decisions made within a group or society that affect the welfare of the community and involve considerations beyond individual gain.

Ethical Principles

Fundamental guidelines that dictate behavior and conduct, often used to guide actions in professional and personal settings to ensure fairness, integrity, and respect.

Social Contract Ethical Theory

A theory in philosophy that posits the legitimacy of authority of the state over the individual is grounded in a contractual agreement among individuals in a society.

Ethical Lifestyle

A way of life or behavior that is conducted according to principles of what is morally right or acceptable, often involving conscious choices that promote sustainability and minimize harm to others.