Table 4.21 -Refer to Table 4.21.Given the Information Above, Calculate the GDP

question 50

Multiple Choice

Table 4.21
-Refer to Table 4.21.Given the information above, calculate the GDP deflator in 2017.

• A)114
• B)105
• C)100
• D)95
• E)87

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Definitions:

Unadjusted Cost of Goods Sold

The total cost attributed to products that have been sold over a period, without any adjustments for inventory changes or other factors.

Journal Entry

A record in accounting that represents every individual transaction made by a company, documented in the chronological order.

Operations

The fundamental activities undertaken by a business to provide its products or services.

Unadjusted Cost of Goods Sold

The initial calculation of the cost of goods sold that does not take into account any adjustments for returns or damaged goods.