Nominal GDP in 2006 Was $13,458

question 51

Multiple Choice

Nominal GDP in 2006 was $13,458.2 billion. In 2006, the GDP deflator was 116.9. What was the real GDP for 2006 if the GDP deflator uses 2000 as the base year?

• A) $11,512.6 billion
• B) $11,522.5 billion
• C) $15,732.6 billion
• D) $15,746.1 billion

Formulate arguments for improving workplace safety and health.

Describe components of effective health prevention programs.

Recognize controversial approaches to controlling occupational diseases.

List methods to reduce the incidence of occupational diseases.

---

Definitions:

Normal Spoilage

The expected amount of waste or loss of materials during a manufacturing process that is considered an unavoidable cost of production.

Operation Costing

A hybrid costing system used in manufacturing goods that combines both job costing and process costing methods.

Process Costing

An accounting methodology used for allocating production costs to individual units of output when products are virtually identical.

Departmental Production Report

A document that summarizes the output, efficiency, and costs associated with a particular department within a company over a specified period.