GNP Converted into Dollars Using an Average Exchange Rate Over

question 101

Multiple Choice

GNP converted into dollars using an average exchange rate over several years adjusted for rates of inflation is

• A) gross national income.
• B) net national product.
• C) gross domestic product.
• D) real national product.

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Definitions:

Accounting Profit

The net income for a company calculated by subtracting total expenses from total revenues.

Interest Rate

The amount charged, expressed as a percentage, by a lender to a borrower for the use of assets.

Sunk Costs

Expenses that have already been incurred and cannot be recovered.

Lack

The state of being without something or not having enough of it.