If GDP Is Currently $13 Trillion and Is Growing at a Rate

question 143

Multiple Choice

If GDP is currently $13 trillion and is growing at a rate of 2.6% per year,how long will it take GDP to reach $26 trillion?

• A) About 15 years
• B) About 17 years
• C) About 27 years
• D) About 30 years

---

Definitions:

Traced Costs

Direct costs, such as materials and labor, that can be directly linked to the production of specific products or services.

Drop the Product

The decision to discontinue the production and sale of a particular product, often due to low demand or profitability.

Activity-based Approach

A methodological approach that focuses on identifying and managing activities as the fundamental cost objects, aiming to improve business processes and allocate costs more precisely.

Job Costing Approach

A system used to assign manufacturing costs to an individual product or batches of products, commonly used in industries where products are distinct like construction or custom manufacturing.