Exhibit 11-2 GDP Data (Billions of Dollars)

question 114

Multiple Choice

Exhibit 11-2 GDP data (billions of dollars)

-In Exhibit 11-2,NDP is:

• A)$6254.5 billion.
• B)$6495.2 billion.
• C)$6805.9 billion.
• D)$7082.9 billion.
• E)$7637.7 billion.

---

Definitions:

Variable Cost

Expenses that change in proportion to the level of production or sales activity.

Units Sold

The total quantity of goods that have been purchased by customers during a specific time period.

Fixed Manufacturing Cost

Expenses that do not change with the level of production, such as rent, salaries, and equipment maintenance.

Units Produced

The total number of completed units of product manufactured during a given period.