Table 12-14 -Refer to Table 12-14

question 194

Multiple Choice

Table 12-14
$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Nominal } \\\text { GDP }\end{array} & \text { Real GDP } \\\hline 2012 & 14,078 & 13,254 \\\hline 2013 & 14,441 & 13,312 \\\hline\end{array}$$
-Refer to Table 12-14.Consider the following data on nominal GDP and real GDP (values are in billions of dollars) : The GDP deflator for 2013 equals

• A)92.2.
• B)102.6.
• C)108.5.
• D)109.1.

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Definitions:

Accumulated Depreciation

Represents the total depreciation expense that has been recorded against a fixed asset since it was acquired, reducing its book value on the balance sheet.

Fees

Fees are the charges levied by an entity in exchange for services or the grant of certain rights, differing from salaries or hourly wages.

Architect

A professional who plans, designs, and oversees the construction of buildings.

Insurance

A financial product sold by insurance companies to safeguard against the risk of financial losses.