Net Exports of Goods and Services Increase When

question 84

Multiple Choice

Net exports of goods and services increase when

• A)imports of goods and services increase and exports of goods and services do not change.
• B)exports of goods and services decrease and imports of goods and services do not change.
• C)consumption expenditure increases.
• D)consumption expenditure decreases.
• E)exports of goods and services increase and imports of goods and services do not change.

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Definitions:

Labor Standards

Benchmarks or criteria set for the amount of time and effort required to perform tasks efficiently and effectively.

Direct Labor-Hours

The total hours worked directly on the production of goods or provision of services, often used as a basis for assigning labor costs to products.

Labor Efficiency Variance

The difference between the actual hours worked and the standard hours expected to complete a task, multiplied by the standard labor rate.

Actual Results

The real, measured outcomes of business activities, such as sales or production levels, compared to planned or forecasted results.