Which of the Following Is Considered a Determinant of Economic

question 51

Multiple Choice

Which of the following is considered a determinant of economic growth?

• A)Increase in the interest rates
• B)Changing expectations
• C)Increase in the money supply
• D)Growth in productive resources
• E)Reduction in government spending

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Definitions:

Variable Costing

A costing method that includes only variable manufacturing costs — direct materials, direct labor, and variable manufacturing overhead — in the cost of a product.

Unit Product Cost

The total cost incurred to produce, package, and place a product ready for sale, divided by the number of units produced.

Absorption Costing

An accounting method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed overhead—in the cost of a product.

Unit Product Cost

The calculation of the total cost (including materials, labor, and overhead) to produce a single unit of a product.