Consider the Following Data That Gives the Quantity Produced and Unit

question 44

Multiple Choice

Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012.
-What was the real gross domestic product (GDP) in 2013?

• A) $5,400
• B) $6,300
• C) $6,450
• D) $1,700
• E) $13,600

---

Definitions:

Net Sales

The amount of a company's gross sales minus returns, allowances, and discounts.

Operating Income

A measure of the profit a company generates from its operational activities, excluding revenues and expenses from non-operational activities.

Discontinued Operations

Parts of a company's business that have been sold or otherwise disposed of, with their financial results reported separately from ongoing operations.

Cost of Goods Sold

The immediate expenses linked to the creation of a company's sold products, encompassing both the costs of materials and labor.