Table 5-4 Use the Following Table to Answer the Following Questions

question 57

Multiple Choice

Table 5-4
Use the following table to answer the following questions.
-Refer to the Table 5-4.Using 2013 as the base year,what can we conclude for 2014?

• A) Real GDP is $880,and the GDP deflator is 80.
• B) Real GDP is $880,and the GDP deflator is 95
• C) Real GDP is $880,and the GDP deflator is 125
• D) Real GDP is $950,and the GDP deflator is 95.

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Definitions:

Indirect Expense

Costs that are not directly linked to the production of goods or services but are necessary for the business's day-to-day operations, such as utilities and rent.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, recognizing it as an expense.

Property

Assets owned by an individual or business, encompassing real estate, personal property, and intellectual property rights.

Net Income

When revenue totals more than expenses, the result is net income.