V I Lenin Believed the Second Wave of European Imperialism Was

question 6

Multiple Choice

V. I. Lenin believed the second wave of European imperialism was caused by

• A) the desire of European adventurers for gold and silver.
• B) the "white man's burden" to convert heathens to Christianity.
• C) the monopoly stage of capitalism, which needed cheap raw materials and investment for accumulating capital.
• D) the idle rich who wanted political positions abroad.

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Definitions:

Weighted-Average Method

A method for valuing inventory that figures out the cost of goods sold and the end inventory value by averaging the cost of all items available for sale over the period.

Labor and Overhead

The combination of direct labor costs and overhead costs incurred in the production process.

Conversion Costs

Refers to the combination of direct labor and manufacturing overhead costs incurred to convert raw materials into finished products.

Weighted-Average Method

An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar items in the inventory.