Explain Each of the Following and Why Each Might Be

question 19

Essay

Explain each of the following and why each might be used: hard pegs,currency boards,and dollarizations.

Calculate activity rates for various cost pools in an ABC system.

Assign overhead costs to products using calculated activity rates.

Determine product margins through ABC analysis.

Contrast the ABC system with traditional costing systems.

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Definitions:

U.S. Net Exports

The difference between the value of goods and services the United States exports to other countries and the value of goods and services it imports from other countries.

Aggregate Demand And Supply Model

An economic model that explains price levels and the production of goods and services through the relationship between aggregate demand and supply.

Short-Run Phillips Curve

Describes the inverse relationship between the rate of inflation and the unemployment rate over a short period.

Rational Expectations

The theory that people optimally use all the information they have, including information about government policies, when forecasting the future.