Which of the Following Would Make the Effects of Globalization

question 66

Multiple Choice

Which of the following would make the effects of globalization worse for the United States?

• A)China and India move up the value-added chain.
• B)China and India move down the value-added chain.
• C)China and India raise the value of their currencies.
• D)Wages in China and India rise, leading to more outsourcing.

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Definitions:

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold in a company.

Periodic Inventory System

An inventory system in which the inventory count and cost of goods sold calculation are performed at specific intervals, typically at the end of an accounting period.

FIFO

FIFO, which stands for "first in, first out," is an inventory valuation method where the first items placed in inventory are the first ones sold. This approach aims to mirror the actual flow of goods.

Ending Inventory Cost

The total value of all the goods a company has in stock at the end of a financial period, calculated using one of several accounting methods.