Use the Following to Answer Questions

question 31

Multiple Choice

Use the following to answer questions :
Table: Lemonade and Cookies

-(Table: Lemonade and Cookies) Look at the table Lemonade and Cookies. Assume that an economy produces only lemonade and cookies. Nominal GDP in 2013 was:

• A)$400.
• B)$420.
• C)$445.
• D)$820.

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Definitions:

Practice

The act of repeatedly performing or exercising an activity or skill so as to acquire or maintain proficiency in it.

Internal Auditors

Professionals who conduct audits within an organization to assess the effectiveness, efficiency, and compliance of operational processes and controls.

Accounting Department

The division within a business that is responsible for managing the financial records, payroll, receivable and payable accounts, and financial reporting.

Passive Continental Margin

A region where the transition between oceanic and continental lithosphere that is not an active plate boundary occurs.