In 2010, Nominal GDP Was $14

question 81

Multiple Choice

In 2010, nominal GDP was $14.6 trillion and the GDP deflator was 110.6. What was real GDP for that year?

• A) $16.1 trillion
• B) $14.3 trillion
• C) $12.1 trillion
• D) $13.2 trillion

Understand the impact of power distance on employee-manager relationships and workplace behavior.

Distinguish between cultures with emphasis on individualism versus collectivism.

Recognize the characteristics and work values of low uncertainty avoidance cultures.

Identify the attributes of short-term and long-term orientation in societies.

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Definitions:

Activity-Based Costing

A costing method that assigns costs to products and services based on the activities and resources that go into creating them.

Overhead Cost

Refers to all ongoing business expenses not directly tied to producing a specific product or service, such as rent, utilities, and administrative salaries.

First Stage Allocations

The initial process of allocating indirect costs to various cost pools or departments, as part of a multi-step allocation procedure.

Activity Rate

In cost accounting, this refers to the cost driver rate used in activity-based costing to allocate costs to products or services.