In the US,________ Account for 1/4 of GDP and 30% of Total

question 12

Short Answer

In the U.S.,________ account for 1/4 of GDP and 30% of total exports.

---

Definitions:

Actual Prices

The real prices at which transactions have occurred, as opposed to estimated or standard prices.

Inventory Accounts

Accounts used to track the costs of products purchased or produced for sale to customers until the products are sold.

Work in Process Inventory

Inventory that includes all the materials, labor, and overhead costs for products that are in the process of being manufactured but are not yet complete.

Direct Labor Costs

The cost of wages paid to workers directly involved in the production of goods or services.