Matthew Bought an New IPod Touch from a Canadian Retailer

question 100

Multiple Choice

Matthew bought an new iPod Touch from a Canadian retailer for $240. It broke later that year. When he complained, the store gave him a new one but charged him a service fee of $60. These two events caused nominal GDP to increase by

• A) $240.
• B) $300.
• C) $180.
• D) $60.
• E) $0.

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Definitions:

Inventory Turnover

A figure representing the frequency at which a business's stock is both sold and refilled over an assigned period, showing the adeptness of inventory administration.

Accounts Receivable Turnover

A financial metric that measures how efficiently a company collects payments from its customers by dividing total sales by average accounts receivable.

Total Asset Turnover

A ratio that evaluates the effectiveness of a firm's utilization of its assets to produce sales income.

Equity Multiplier

A financial leverage ratio that measures the portion of a company's assets that are financed by its shareholders' equity.