The Table Below Shows Total Output for an Economy Over

question 52

Multiple Choice

The table below shows total output for an economy over 3 years. * millions of dollars ** real GDP measured in millions of 2010 dollars
TABLE 20-7
Refer to Table 20-7.The implicit GDP deflator for 2018 is approximately

• A)94.
• B)107.
• C)108.
• D)109.
• E)110.

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Definitions:

Units

A measure of quantity used to quantify the amount of production output, inventory, or sales.

Variable Costs

Expenses that change in proportion to the production or sales figures.

Per Unit

A measure or cost expressed per single item or quantity of a product or service.

Cost Behaviour

The way in which costs change in relation to alterations in an organization's level of activity.