Which of the Following Is Not a Correct Statement About

question 7

Multiple Choice

Which of the following is not a correct statement about the growth of real GDP in the U.S.economy?

• A)Real GDP in 2009 was almost four times its 1965 level.
• B)Growth was steady between 1965 and 2009.
• C)Continued growth in real GDP enables the typical American to enjoy greater economic prosperity than his or her parents and grandparents did.
• D)The output of goods and services produced grew on average about 3 percent per year between 1965 and 2009.

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Definitions:

CCA Class

In the context of Canadian taxation, refers to the categorization of depreciable property for the purpose of calculating capital cost allowance (tax deductions for depreciation).

Manufacturing Costs

Expenses directly related to the production of goods, including raw materials, labor, and factory overhead.

Tax Rate

The rate at which income is taxed for a person or business entity.

Net Income

Net income refers to the total profit of a company after all expenses and taxes have been subtracted from total revenue.