In a Simple Macro Model,it Is Generally Assumed That a Country's

question 54

Multiple Choice

In a simple macro model,it is generally assumed that a country's exports

• A)and imports are autonomous.
• B)and imports are induced.
• C)are autonomous,whereas imports are induced.
• D)are induced,whereas imports are autonomous.
• E)are always equal to investment.

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Definitions:

Cost Transferred

The movement of accumulated costs from one cost center to another in the accounting period.

Ending Inventory

Ending inventory is the total value of goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Conversion Costs

The combined costs of direct labor and manufacturing overhead and conversion costs are used to transform raw materials into finished products.

Equivalent Unit

A concept in cost accounting used to apportion costs to partially completed goods, treating them as a fraction of a fully completed unit.