When the Value of Our Goods Exports Is Less Than

question 27

Multiple Choice

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

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

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Definitions:

New-product Development

It refers to the complete process of bringing a new product or service to market, including idea generation, concept testing, design, development, and marketing.

Customers

Individuals or organizations that purchase goods or services for personal use or to fulfill their own business needs.

Suppliers

Businesses or individuals that provide goods or services to another company under a contract or agreement.

Nontraditional Firms

Companies that operate in non-conventional ways, often challenging established norms and practices in their industry.