Look at the Following Data: GDP = $3,590 Billion; Consumption

question 46

Multiple Choice

Look at the following data: GDP = $3,590 billion; consumption = $1,820 billion; exports = $450 billion; investment = $1,250 billion; government purchases = $900 billion.Imports is equal to __________ billion.

• A) $830
• B) $1,460
• C) -$830
• D) $1,240
• E) none of the above

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Definitions:

Credit Sales

Sales for which payment is not received at the time of sale but is expected to be paid at a future date.

Raw Material Purchases

The total cost of raw materials bought by a company for use in production during a specific period.

Variable Manufacturing Overhead

Costs that change with the level of production output and are associated with the manufacturing process, excluding direct labor and materials.

Cash Collections

Cash collections refer to the process of receiving payments from customers, typically involving money owed for goods sold or services rendered.