Does the timer include the time between waves?

Since there is no visible timer while playing a level (one can only see it after he finishes the level), does anyone know if the timer includes these two things into the total time you played a level:

1. The time between waves when you need to press "G" to start the next wave
2. The time between waves when the 15 (or 12? I am not sure) seconds countdown until the next wave is visible

Solution 1:

Yes, the timer includes the time between waves. The timer in Orcs Must Die! starts when the initial setup period ends and runs up until the last orc of the last wave is dead and the only time that it does not include is when you are accessing the weavers and when you pause the game (ESC on PC).