Which of the Following Is Included in the Investment Component

question 6

Multiple Choice

Which of the following is included in the investment component of GDP?

• A)households' purchases of newly constructed homes
• B)net additions to firms' inventories
• C)firms' purchases of capital equipment
• D)All of the above are correct.

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Definitions:

Lillian Gilbreth

An American psychologist and engineer known as the "mother of modern management," instrumental in developing industrial management techniques and the study of ergonomics.

Frederick Taylor

Known as the father of scientific management, he proposed that work processes could be optimized by breaking them down into smaller tasks and using scientific methods to determine the most efficient ways of performing them.

Labour Standards

Norms and criteria set to ensure fair working conditions, including wages, hours, and safety.

Labour Standards

Predetermined metrics or benchmarks that specify the time required for a worker to complete a specific task under normal working conditions.