Table 12-13 Consider the Data Shown Above for Vicuna, a Country That

question 32

Multiple Choice

Table 12-13
$$\begin{array} { | c | c | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Oranges } \\\text { Produced }\end{array} & \begin{array} { c } \text { Price af } \\\text { Oranges }\end{array} & \begin{array} { c } \text { Shirts } \\\text { Prodiced }\end{array} & \begin{array} { c } \text { Price af } \\\text { Shirts }\end{array} \\\hline 2009 & 1,800 & \$ 0.90 & 110 & \$ 30.00 \\\hline 2011 & 2,000 & 1.00 & 110 & 35.00 \\\hline\end{array}$$
Consider the data shown above for Vicuna, a country that produces only two products: oranges and shirts.
-Refer to Table 12-13.Real GDP for Vicuna for 2009 using 2011 as the base year equals

• A)$4,620.
• B)$5,100.
• C)$5,650.
• D)$5,850.

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Definitions:

FICA Withholding

The process of deducting Social Security and Medicare taxes from employees' paychecks, as mandated by the Federal Insurance Contributions Act.

Federal Income Tax

The annual income of individuals, corporations, trusts, and other legal entities is subject to a tax imposed by the IRS.

Monthly Schedule Depositor

A designation for businesses that are required to deposit employment taxes on a monthly basis, typically when their tax liability in a lookback period exceeds certain thresholds.

Tax Liability

The total amount of tax owed to the IRS or other tax authorities after all deductions, credits, and exemptions.