An Autonomous Increase in S from a Condition of Equilibrium

question 12

Multiple Choice

An autonomous increase in S from a condition of equilibrium in national income and in the trade balance results in the nation's income:

• A)rising and its trade balance turning into surplus
• B)falling and its trade balance turning into surplus
• C)falling and its trade balance turning into deficit
• D)rising and its trade balance turning into deficit

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Definitions:

Lean Manufacturing

A methodical procedure designed to cut down on waste in a factory setup without reducing work efficiency.

Manufacturing Cells

Groups of machines and/or workstations arranged closely together to manufacture similar products or components, enhancing production efficiency and flexibility.

Cost Of Production Report

A document detailing the total costs involved in manufacturing goods, including materials, labor, and overhead costs, usually within a specific period.

Process Costing

An accounting methodology used in manufacturing, where costs are assigned to batches or process levels, suitable for homogeneous products.