Canadian Net Export Spending Falls When

question 243

Multiple Choice

Canadian net export spending falls when

• A)the price level in Canada falls relative to the price level in other countries.
• B)the growth rate of Canadian GDP is slower than the growth rate of GDP in other countries.
• C)the value of the Canadian dollar decreases relative to other currencies.
• D)the inflation rate is lower in Canada relative to other countries.
• E)the Canadian economy becomes more open to international trade.

Differentiate between internal and external environmental factors influencing an organization and their relevance to strategic planning.

Recognize the importance of aligning HRM practices and organizational goals to implement strategic changes successfully.

Explain the concept of competitive advantage and the strategies organizations adopt to achieve it.

Understand the role of strategic management principles in shaping organizational objectives and competitive scopes.

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Definitions:

Standard Costs

Pre-determined or estimated costs used as a benchmark to compare with the actual costs incurred.

Actual Costs

The real, total expenses incurred during the production or acquisition of goods and services.

Fixed Overhead

Fixed costs that do not vary with the level of production or sales over a short term, including rental expenses, salaries, and insurance.

Direct Materials Price Variance

This refers to the difference between the actual cost of direct materials and the standard cost that was expected or budgeted for those materials.