Use the Table Below to Answer the Following Question

question 6

Multiple Choice

Use the table below to answer the following question.
Table 20.4.2

-Refer to Table 20.4.2.An economy produces only digital cameras,chocolate bars,and watches.
The table gives the quantities produced and prices in 2010 and 2011.
The base year is 2010.
The chained-dollar real GDP in 2011 is

• A)$34.
• B)$25.
• C)$147.
• D)$109.
• E)$36.

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Definitions:

Net Income

The conclusive financial gain of a company upon subtracting every expense and tax from its total sales revenue.

Owner Drawings

Withdrawals of cash or other assets from a company by the owner for personal use.

Revenue

The total income generated by a business from its normal business operations.

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries are made, used to check the equality of debits and credits and prepare for the next accounting period.