If Real GDP Per Person Is Growing at 4 Percent

question 309

Multiple Choice

If real GDP per person is growing at 4 percent per year, approximately how many years will it take to double?

• A) 17.5
• B) 25
• C) 4
• D) 8

Apply concepts of just-in-time (JIT) inventory management in budgeting.

Understand the concept and significance of a cash budget in management.

Comprehend the rationale behind the prioritization of the sales budget.

Learn how to prepare a sales budget and understand its components.

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Definitions:

Discount

A reduction from the usual cost of something, or the act of lowering the price of goods, services, or securities.

Day

A 24-hour period from midnight to midnight.

Income

The money received, especially on a regular basis, for work or through investments.

Financial Statement

An authorized ledger recording the economic occurrences and financial wellbeing of a company, person, or any distinct entity.