Real GDP Can Be Calculated Using Which of the Following

question 66

Multiple Choice

Real GDP can be calculated using which of the following formulas?

• A) (Nominal GDP / real GDP) × 100.
• B) (GDP chain price index / nominal GDP) × 100.
• C) (Nominal GDP × 100) / (GDP implicit price deflator).
• D) (Nominal GDP / inflation rate) × 100.

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Definitions:

Service Department Allocations

The process of distributing indirect costs from service departments to producing departments based on their usage of services.

Service Department Allocations

The process of distributing the costs of service departments to producing or operating departments based on their usage of services.

Service Department Charge Rate

The rate at which internal service departments charge other parts of the same organization for the services rendered.

Accounting Department

The division within a company responsible for managing financial records, ensuring compliance with accounting standards, and producing financial statements.