When the Value of Our Goods Exports Is Less Than

question 206

Multiple Choice

When the value of our goods exports is less than the value of our goods imports,

• A) d and e.
• B) the value of the dollar must fall.
• C) there will be domestic unemployment.
• D) there will be an unfavorable balance of trade.
• E) foreign currency reserves must fall.

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Definitions:

Inventory Column

A column in financial spreadsheets or ledgers that records the quantities and values of products a company has in stock.

Cash Payments Journal

A journal used in accounting to record all payments made by a company, including expenses and purchases.

Accounts Payable

Liabilities or amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.

Double Entry System

An accounting method where every transaction is recorded in at least two accounts, ensuring the accounting equation remains balanced.