To Compare the Change in Physical Production (GDP)between 2012 and 2018

question 6

Multiple Choice

To compare the change in physical production (GDP) between 2012 and 2018, we should compare ________ GDP in 2012 with ________ GDP in 2018.

• A)real; real
• B)real; nominal
• C)nominal; nominal
• D)current dollar; current dollar

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Definitions:

Trade Discount

A reduction in the listed price of goods or services offered by a vendor to buyers in the same trade.

Channel Members

Channel members refer to the set of intermediaries that a product passes through from production to final sale, including wholesalers, distributors, and retailers.

Services Perform

The process of executing or delivering a service to fulfill a need or requirement of a customer.

Markup

The amount added to the cost price of goods to cover overhead and profit; the percentage increase on the original cost.