From 1900 to 2010 Real GDP Per Person in the U.S

question 57

Multiple Choice

From 1900 to 2010 real GDP per person in the U.S. has ________.

• A) doubled
• B) grown by a factor of four
• C) grown by a factor of eight
• D) grown by a factor of twenty
• E) declined

---

Definitions:

Useful Life

The estimated period over which a tangible asset is expected to be functional and contribute to the operations of a business.

Value-based Pricing

A pricing strategy where the price is set based on the perceived value to the customer rather than on the cost of production or historical prices.

Operating Costs

Expenses incurred in the normal operation of a business, including costs such as rent, utilities, payroll, and materials.

Useful Life

The estimated duration of time that an asset is expected to be functional and economically viable for its intended purpose.