Table 11-3
-Refer to Table 11-3.Use the table above to calculate the annual growth rate in GDP.Also calculate the total percentage change in the growth from 2015 through 2018.Explain the difference between the average annual growth rate in real per capita GDP from 2015 through 2018 and the total percentage change in growth from 2015 and 2018.
Definitions:
Operating Leverage
The degree to which a firm can use fixed operating costs to magnify the effects of changes in revenue on its operating income.
Salesvolume
Refers to the total number of units sold within a specific period.
Net Operating Income
The profit generated from a business's operations after subtracting operating expenses, but before interest and taxes.
Degree Of Operating Leverage
A financial ratio that measures the sensitivity of a company's operating income to a change in its sales volume.
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