At 2012 Prices, the Value of Production in 2013 Was

question 12

Multiple Choice

At 2012 prices, the value of production in 2013 was 2 percentage points higher than in 2012. At 2013 prices, the value of production in 2013 was 4 percentage points higher than in 2012.
The chained-dollar real GDP is ________ in 2013 than in 2012.

• A)4 percent greater
• B)3 percent greater
• C)3 percent smaller
• D)2 percent smaller
• E)2 percent greater

Understand the significance of the coefficient of determination in regression analysis.

Analyze reasons behind non-direct variation of costs with production volume.

Recognize cost drivers and their importance in cost behavior analysis.

Understand the concept of discretionary costs.

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Definitions:

Stock-Index Portfolios

Investment portfolios that aim to replicate the performance of a specific stock index, allowing investors to gain broad market exposure.

GDP Per Capita

An economic measure that calculates a country's economic output per person by dividing the GDP by the population.

Yield

The income return on an investment, such as the interest or dividends received, expressed as an annual percentage rate based on the investment's cost, its current market value, or its face value.

Exchange Rate

Price of a unit of one country’s currency in terms of another country’s currency.