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

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Definitions:

Market Opportunities

Situations where a company can capitalize on a gap in the market to meet customer demand and gain a competitive advantage.

Demographic Statistics

Numerical data relating to the characteristics of a population, such as age, gender, income, and education, used for market segmentation and analysis.

Quantified

Refers to the process of expressing or measuring something in terms of quantity or numbers, making it possible to analyze and compare objectively.

Customer Value Chain

A conceptual framework that outlines the series of steps a company takes to create value for the customer, from product development through to after-sales service.