Net Unilateral Transfers

question 65

Multiple Choice

Net unilateral transfers

• A) are part of a national income.
• B) are part of a country's product.
• C) must be added to NNP in calculations of national income.
• D) are part of a country's GNP.
• E) Only A and C.

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Definitions:

Product Cost

The total cost associated with making or acquiring a product, including raw materials, labor, and overhead expenses.

Factory Overhead Cost

Expenses related to producing goods that are not directly traceable to products, including utilities and manager salaries at a production facility.

Factory Burden

Another term for manufacturing overhead or factory overhead.

Materials Inventory

The cost of materials that have not yet entered into the manufacturing process.