The GDP Deflator Is

question 32

Multiple Choice

The GDP deflator is:

• A) measured using the ratio between real and nominal GDP.
• B) one way of summarizing how prices have changed across the entire economy.
• C) a weighted average of all the individual price changes in the economy.
• D) All of these statements are true.

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Definitions:

Activity-Based Costing

An accounting method that identifies the activities that a firm performs and then assigns indirect costs to products based on the benefit received from those activities.

Activity-Based Costing

A method of cost accounting that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Product Q1

Designates the first quarter's product or output in a company's fiscal year.

Product Q19S

A designated name or code for a specific product, suggesting a unique item or version offered by a company.