Use the Following to Answer Questions

question 122

Multiple Choice

Use the following to answer questions :
Table: Per Capita GDP

-(Table: Per Capita GDP) Look at the table Per Capita GDP. The growth rate of nominal GDP from 2011 to 2014 was:

• A)37.5%.
• B)60%.
• C)62.5%.
• D)166.7%.

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Definitions:

Profit

The financial gain obtained when the revenue from selling goods or services exceeds the total cost of producing them.

Fixed Costs

Costs that remain constant regardless of a business's operational levels, including rent, salaries, and loan repayments.

Break-Even Point

The point at which total costs and total revenues are equal, resulting in no gain or loss for the business.

Fixed Costs

Overhead expenses that do not vary with production level or sales volume, such as rent, salaries, and insurance.