GDP Can Be Calculated by Adding

question 28

Multiple Choice

GDP can be calculated by adding:

• A)consumption, gross investment, government purchases, exports, and imports
• B)gross investment, government purchases, consumption, and net exports
• C)consumption, net investment, wages, and rents
• D)consumption, gross investment, government purchases, and imports
• E)consumption, gross investment, government purchases, and exports

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Definitions:

Electronic Commerce

The buying and selling of goods and services through the internet or other electronic systems.

Joint Innovations

Collaborative efforts between companies or individuals to create new products, services, or technologies.

Economic Order Quantity

The optimal quantity of inventory to order that minimizes the total costs associated with ordering and holding inventory.

Carrying Costs

Expenses associated with holding inventory, such as storage, insurance, and opportunity costs, until it is sold or used in production.