Convergence Can Be Seen in the Data of All Countries

question 12

Multiple Choice

Convergence can be seen in the data of all countries together if one holds constant:

• A)the size of government.
• B)the extent of international openness.
• C)investment in education and health.
• D)all of the above.

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Definitions:

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.

Variable Costing

An accounting method that includes only variable production costs (materials, labor, and overhead) in product costs and treats fixed manufacturing overhead as an expense of the period.

Period Cost

Expenses that are not directly tied to production activity and are expensed in the period in which they are incurred.

Variable Costing

A technique in accounting that encompasses only costs that vary with production (including direct materials, direct labor, and variable manufacturing overhead) in the pricing of products.