An Inflation Rate of 5% Between 2013 and 2014 Would

question 53

Multiple Choice

An inflation rate of 5% between 2013 and 2014 would be implied by a change in the GDP deflator from ________ in 2013 to ________ in 2014.

• A)105; 115
• B)200; 205
• C)400; 420
• D)375; 390

---

Definitions:

Costs Per Unit

The total expense involved in manufacturing or acquiring a product divided by the number of units.

Step-Down Method

An allocation method used in cost accounting to assign overhead costs to products or departments, incorporating inter-departmental services.

Service Department Costs

These are costs associated with departments that do not directly produce goods but provide necessary services to production departments, like maintenance and cleaning.

Geriatric Medicine

A branch of medicine that focuses on health care of elderly people, aiming to promote health and prevent and treat diseases and disabilities in older adults.