GDP Per Capita Is GDP Divided By

question 24

Multiple Choice

GDP per capita is GDP divided by:

• A) population.
• B) the price level.
• C) the inflation rate.
• D) the unemployment rate.

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Definitions:

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual products or job orders, based on a particular activity base.

Machine-Hours

A measure of production time used in cost accounting, representing the number of hours that machinery is in operation during a given period.

Overhead Applied

The allocation of indirect costs to specific cost objects, such as products or services, based on a predetermined overhead rate.

Direct Labor-Hours

The total hours worked directly on a product by employees.