If an Economy's GDP Rises,then It Must Be the Case

question 12

Multiple Choice

If an economy's GDP rises,then it must be the case that the economy's

• A)income rises and saving falls.
• B)income and saving both rise.
• C)income rises and expenditure falls.
• D)income and expenditure both rise.

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Definitions:

Weighted-Average Method

A costing method that averages the costs of goods available for sale during the period for the calculation of cost of goods sold and ending inventory.

Processing Department

A specific unit within a manufacturing facility where a distinct phase of production is carried out, like assembly or packaging.

Cost Per Unit

This refers to the total expense incurred to produce, store, and sell one unit of a product or service.

Materials

The raw items or components used in the production of goods.