Use the Following Data to Calculate GDP: Consumption = $5,000;

question 84

Multiple Choice

Use the following data to calculate GDP: consumption = $5,000; gross investment = $800; government purchases = $700; exports = $30; imports = $60; transfer payments = $340.

• A)GDP = $7,400
• B)GDP = $7,740
• C)GDP = $3,140
• D)GDP = $6,470
• E)GDP cannot be determined due to insufficient data

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Definitions:

Landscaping Design

The art and practice of planning and designing outdoor landscapes, focusing on aesthetics, functionality, and ecosystem sustainability.

Job Cost Sheet

A document that records the costs associated with a specific job or batch, detailing direct labor, direct materials, and applied overhead.

Direct Material

Raw materials that can be directly attributed to the production of specific goods or services.

Applied Overhead

The estimated overhead costs assigned to individual units of production, based on a predetermined rate.