Use the Following to Answer Questions

question 314

Multiple Choice

Use the following to answer questions:
Scenario: Real GDP
Suppose that in year 1 an economy produces 100 golf balls that sell for $3 each and 75 pizzas that sell for $8 each. The next year the economy produces 110 golf balls that sell for $3.25 each and 80 pizzas that sell for $9 each.
-(Scenario: Real GDP) Look at the scenario Real GDP. Using year 1 as the base year, the growth rate of real GDP from year 1 to year 2 is:

• A)10%.
• B)7.8%.
• C)19.7%.
• D)8.8%.

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Definitions:

Performance Deficiency

The gap between actual performance and the expected or desired performance in a work setting, often indicating the need for improvement.

Useful Information

Data that is relevant, accurate, and timely, which supports decision-making processes.

Accurate

The quality of being correct and precise without errors.

Reliable

The quality of being consistently good in performance, providing trustworthy results over time.