The United States Is a Net Borrower

question 145

Multiple Choice

The United States is a net borrower. If its budget deficits rise faster than GDP, the national debt will:

• A)increase in terms of dollars but decrease as a percentage of GDP.
• B)increase both in terms of dollars and as a percentage of GDP.
• C)decrease in terms of dollars but increase as a percentage of GDP.
• D)decrease both in terms of dollars and as a percentage of GDP.

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Definitions:

Unit Product Cost

The total cost (direct materials, direct labor, and manufacturing overhead) divided by the number of units produced.

Machine-Hours

Machine-hours represent a measure of production time, indicating the total hours a machine is operated in the manufacturing process of goods.

Variable Manufacturing Overhead

Costs that vary with the level of production output and are related to manufacturing the product but not directly traceable to specific units of product.

Job J

Likely a specific reference to a job or project within a company, requiring a definition based on its context.