If GDP Per Capita Rises by 2% Between 2015 and 2016

question 257

Multiple Choice

If GDP per capita rises by 2% between 2015 and 2016, which of the following is necessarily true?

• A)Real GDP has risen by more than 2%.
• B)Real GDP has risen by 2%.
• C)The population has decreased.
• D)The population has increased, but by less than 2%.
• E)None of the above is necessarily true.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, reducing its book value on the balance sheet.

Journal Entry

A record of a transaction in a business's accounts, noting the accounts affected and the amounts.

Depreciation

The process of methodically allocating the expense of a physical asset over its functional life.

Sales Price

The amount at which goods or services are sold to customers, sometimes before discounts, taxes, or additional charges.