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question 9

Multiple Choice

$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Table 2.3
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ 2007 $\quad$$\quad$$\quad$ 2010 $\quad$$\quad$$\quad$$\quad$ 2013
$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ Quantity Price $\quad$ Quantity Price $\quad$ Quantity Price
$$\begin{array} { | l | c | c | c | c | c | r | } \hline \text { Peaches } & 150 & \$ 0.20 & 170 & \$ 0.30 & 190 & \mathbf { \$ 0 . 4 0 } \\\hline \text { Tacos } & 75 & 0.80 & 80 & 1.00 & 100 & 1.20 \\\hline \text { Flashlights } & \mathbf { 4 0 } & 3.00 & 40 & 3.50 & 50 & \mathbf { 4 . 5 0 } \\\hline \text { Hamoricas } & \mathbf { 2 0 } & 14.00 & 25 & 16.00 & \mathbf { 3 0 } & 1 \mathbf { 8 . 0 0 } \\\hline\end{array}$$
Table 2.3 gives quantities and prices for each good produced in a simple economy in 2007, 2010, and 2013.
-Refer to Figure 2.3.Nominal GDP in 2010 is

• A) $540.00.
• B) $568.00.
• C) $671.00.
• D) $812.00.

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Definitions:

Service Departments

Units within an organization that provide support to the profit-making departments, rather than directly contributing to profits.

Profit Margin

represents the percentage of revenue that remains as profit after all operating expenses, taxes, and costs have been deducted from total sales.

Investment Turnover

A ratio that measures how effectively a company generates sales or revenue from its investment in assets.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment relative to its cost.