The Table Below Shows Total Output for an Economy Over

question 114

Multiple Choice

The table below shows total output for an economy over 2 years.
TABLE 20-8
-Refer to Table 20-8.The implicit GDP deflator in 2015 (using 2015 as the base year) is

• A)71.59.
• B)100.
• C)103.4.
• D)114.6.
• E)139.7.

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Definitions:

Loss of $1,000

A financial term indicating that an entity has incurred a negative financial result, specifically being $1,000 less than initially accounted for or expected.

Impairment Loss

A reduction in the book value of an asset when its fair market value falls below its carrying amount on the balance sheet, indicating a permanent decline in value.

Accumulated Depreciation

Represents the total depreciation expenses charged against a fixed asset since it was put into use, reflecting its decrease in value over time.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value.