To be in a report, a field must be:
(mentioned in the whitelist - if it is not null)
AND (NOT(mentioned in the blacklist if it is not null)) 
AND (mentioned in the Explicit list - if it is not null)

Or you could invert that and say it with OR's. Something will be removed from the models/fields if it's precluded by any of those lists.

All the lists are applied to remove unwanted models and fields from being reported upon.
The administrator of this system may employ any or all or none of them.

* there is no wildcard to allow all fields in a particular model
I mean, there is no wildcard feature support for an Explicit list. You can still get that kind of automatic inclusion by using whitelists and blacklists, and leave the Exclusive list NULL.