Which One of the Following Is NOT Included in GDP

question 334

Multiple Choice

Which one of the following is NOT included in GDP?

• A) You pay a roofer $3,000 to repair your roof after it is damaged in a hailstorm.
• B) You pay a roofer $3,000 to repair your roof after you discover leaks have appeared due to normal wear and tear.
• C) You give up a weekend of leisure to repair your roof yourself.
• D) You purchase $60 worth of first aid supplies at the local drugstore to treat the cuts and scrapes you suffered while crawling around on the roof.

Compute the predetermined overhead rate using given data.

Understand the concept and purpose of budgeting within organizations.

Learn the components and structure of a master budget.

Identify the sequential preparation order of various budgets.

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Definitions:

Dispositional Attribution

Attributing a behavior to some internal cause, such as a personal trait, motive, or attitude; an internal attribution.

Primacy Effect

The tendency to remember information that is presented first better than information that is presented later on.

Impression Formation

The psychological process by which individuals form opinions and judgments about other people based on available information.

Social Psychology

The scientific study of how individuals think, influence, and relate to one another within a social context.