All of the Following Are Measures of GDP Except the Total

question 42

Multiple Choice

All of the following are measures of GDP except the total:

• A) expenditures of all businesses in the economy.
• B) income from all production in the economy.
• C) expenditures on all final goods produced.
• D) value of all final production.

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Definitions:

Direct Labor Cost

The expense associated with employees who are directly involved in the production process.

Net Operating Income

A financial metric that calculates a company's profitability by subtracting operating expenses from its operating income.

Variable Costing

A method of costing that includes only variable production costs (costs that vary with production volume) in the cost of goods sold and excludes fixed manufacturing overhead.

Net Operating Income

Earnings derived from a company's regular business activities, excluding deductions of interest and taxes.