Unemployment Compensation Is

question 168

Multiple Choice

Unemployment compensation is

• A)part of GDP because it represents income.
• B)part of GDP because the recipients must have worked in the past to qualify.
• C)not part of GDP because it is a transfer payment.
• D)not part of GDP because the payments reduce business profits.

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Definitions:

Total Costs

The sum of all costs associated with producing a good or service, including both fixed and variable costs.

Industry Expansion

The growth or increase in size and operations of an industry due to higher demand, technological advancements, or other factors.

Positive Revenues

Positive revenues refer to the income generated from sales, services, or other business activities before any expenses are subtracted, indicating a gross inflow of economic benefits.

Resources Move

Resources Move describes the reallocation or mobility of resources (labor, capital, etc.) from one sector, location, or use to another.