If Real GDP Is Growing at a Slower Rate Than

question 11

Multiple Choice

If real GDP is growing at a slower rate than the growth rate of population,

• A)real GDP must be growing more slowly than real GDP per capita.
• B)real GDP must be growing faster than real GDP per capita.
• C)real GDP per capita must be negative.
• D)real GDP per capita must be increasing.
• E)None of these

Prepare and understand a cost reconciliation schedule.

Grasp the concept and application of equivalent units of production in cost accounting.

Understand the principles of just-in-time (JIT) inventory management and its impact on cost accounting.

Match common terms and concepts used in process cost accounting with their definitions.