Consider the Following Data That Gives the Quantity Produced and Unit

question 47

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 2015.
-What was the gross domestic product (GDP) deflator in 2016?

• A) 108.3
• B) 103
• C) 120
• D) 130
• E) 110

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Definitions:

External Party

An entity or individual that is outside of an organization and can include suppliers, customers, government agencies, and lenders.

Company Tax Rate

The rate at which a company is taxed on its profits by the government.

Inventories

The total amount of goods available for sale and raw materials available to produce those goods held by a company.

Subsidiary Entity

A company that is controlled by another company, often referred to as the parent company, through ownership of more than half of the subsidiary's voting stock.