National Saving Is

question 82

Multiple Choice

National saving is

• A)the sum of private saving and government saving.
• B)reduced by government budget deficits.
• C)the sum of private saving and the government budget deficit or surplus.
• D)all of the above.

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Definitions:

Manufacturing Costs

Refers to the total expenses incurred in the process of producing a product, including raw materials, labor, and overhead costs.

Variable Costing

An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, treating fixed costs as period expenses.

Absorption Costing

An accounting method that includes all manufacturing costs (direct costs, fixed, and variable overheads) in the cost of a product.

Costing Approach

A method or system used to calculate the cost of a product, project, or service for accounting, financial, and strategic planning.