Which of the Following Is Normally Considered to Be a Product

question 64

Multiple Choice

Which of the following is normally considered to be a product cost?

• A)Insurance on a factory building.
• B)Selling expenses.
• C)President's salary.
• D)Miscellaneous office expense.

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Definitions:

Net Exports

The difference between a country's total value of exports and its total value of imports within a certain timeframe.

Government Purchases

Spending by the government on goods and services, which is part of fiscal policy to influence the nation's economy.

GDP

Gross Domestic Product, a measure of the economic output of a country, expressing the total value of all goods and services produced over a specific time period.

Consumption

Household consumption of products and services.