Suppose Exports Are Less Than Imports

question 12

Multiple Choice

Suppose exports are less than imports.Given this information,we know with certainty that

• A)a trade deficit exists.
• B)GNP > GDP.
• C)GNP < GDP.
• D)the change in business inventories is positive.

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Definitions:

Lean Production

An organized approach to reducing waste in a manufacturing system while maintaining production levels.

Value Chain Analysis

Value Chain Analysis is a process of examining the development of competitive advantage, focusing on the chain of activities involved in designing, producing, marketing, delivering, and supporting a product or service.

Effective

Achieving the desired outcome or result with optimal use of resources and time.

Manageable

Capable of being controlled, handled, or dealt with effectively.