What Were Some of the Consequences of the Large Current

question 26

Essay

What were some of the consequences of the large current account deficits that the U.S.ran from the 1990s to 2007?

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Definitions:

Flexible Budgeting

An approach in budgeting that allows for adjusting budget allocations based on varying levels of activity or output.

Unfavorable Variance

A situation where actual costs exceed the standard or budgeted costs, often indicating inefficiencies or increased expenses.

Favorable Variance

A financial term indicating that actual costs were lower or revenues were higher than planned.

Budgeted Amount

The projected costs or revenues allocated to a specific activity or period, based on estimates.