If the GDP Deflator Rises from 185 to 190,what Is

question 152

Multiple Choice

If the GDP deflator rises from 185 to 190,what is the rate of inflation between the two years?

• A)270%
• B)50%
• C)5%
• D)2.7%

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Definitions:

Fees Earned

Income received or earned for services provided.

Revenue

The entirety of income that a company earns from the transactions tied to its fundamental operational services or product sales.

Accounts Payable

Short-term liabilities representing amounts due to suppliers or creditors for goods and services received but not yet paid for.

Correcting Entry

An entry made in the accounting records to amend a previously made error or oversight.