Which of the Following Statements Is True

question 48

Multiple Choice

Which of the following statements is true?

• A) There is no single correct strategy for economic growth and development.
• B) In general, GDP per capita is highly correlated with alternative quality of life measures.
• C) The World Bank is affiliated with the United Nations and makes long-term low-interest loans to LDCs.
• D) All of these.

---

Definitions:

Cost of Goods Sold

This accounting term refers to the direct costs attributable to the production of the goods sold by a company, including labor, material, and overhead costs.

Rising Prices

A situation in which the general level of prices for goods and services in an economy increases over a period, often referred to as inflation.

Inventory Method

A system used by businesses to keep track of the quantity, status, and location of goods that they hold.

Gross Profit

The financial metric calculated by subtracting the cost of goods sold from sales revenue, indicating the efficiency of a company in managing its production and labor costs.