Which of the Following Are Not Included in GDP

question 38

Multiple Choice

Which of the following are not included in GDP?

• A)​Transfer payments.
• B)​Imports
• C)​Intermediate goods.
• D)​All of the above are excluded from GDP.

Appreciate the importance of legal and ethical standards in determining what is considered white collar crime.

Understand the different types of justice (distributive, procedural) and their relevance in ethical decision-making and societal norms.

Understand the principles and conceptual differences among major ethical philosophies including teleology, deontology, egoism, and utilitarianism.

Identify how individual sensitivity to ethical issues can vary according to their moral philosophy orientation.

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Definitions:

Average Total Cost

Average Total Cost is an economic concept that represents the total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.

Output

The total amount of goods or services produced by a firm, industry, or economy in a given period.

Average Fixed Cost

Fixed production costs (expenses unaffected by output levels) divided over the produced output quantity.

Total Revenue

The overall amount of money generated by a business from its sales activities before any costs or expenses are subtracted.