If a Country's Annual Growth Rate Is 2%, Then Its

question 167

Multiple Choice

If a country's annual growth rate is 2%, then its output will double in approximately ____ years.

• A)2
• B)10
• C)25
• D)35
• E)50

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Definitions:

Variable Expenses

Costs that change in proportion to the level of activity or volume of output produced.

Unit Fixed Expenses

These are expenses that do not change with the level of production or sales within a certain range and are calculated per unit of product.

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - as part of the cost of a finished unit of product.

Variable Costing

A costing method that includes only variable costs—those that change with production volume—in product pricing and decision-making.