Which of the Following Is Included in GDP

question 109

Multiple Choice

Which of the following is included in GDP?

• A)the sale of stocks and bonds
• B)the estimated rental value of owner-occupied housing
• C)unpaid production of goods and services at home
• D)the sale of an old piece of jewellery

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Definitions:

Total Variable Costs

Total variable costs are expenses that vary directly with changes in production or sales volume, such as raw materials and labor costs tied to production levels.

Activity Level

A measure of the volume of production or services that influences costs and revenue within a specified period.

Relevant Range

The range of activity over which the assumptions about cost behavior for a company are valid.

Activity Level

A measure of the volume or intensity of operations in a business, often influencing costs and production capacity.