If Real GDP Grows by 3% in 2013, 3

question 43

Multiple Choice

If real GDP grows by 3% in 2013, 3.2% in 2014, and 2.5% in 2015, what is the average annual growth rate of real GDP?

• A)2.6%
• B)2.9%
• C)3.1%
• D)4.2%
• E)5.3%

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Definitions:

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, often summarized as product, price, place, and promotion.

Promotion

A marketing strategy used to increase awareness, interest, and sales of a product or service through various means such as advertising, sales, and public relations.

Customer Value

How a customer views the worth of a product or service relative to alternative choices.

Supply Chain

A system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.