Data on Exports and Imports for the United States Over

question 10

Multiple Choice

Data on exports and imports for the United States over the period from 1890 to 2008 show that

• A)the United States had large trade deficits throughout this entire period.
• B)the United States had large trade surpluses throughout this entire period.
• C)the percentage of total output exported by U.S. firms fell dramatically during World War I and World War II.
• D)a higher percentage of U.S. goods was exported in recent years than in earlier years.

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Definitions:

Designing Products

The process of ideating, creating specifications, and developing prototypes for new products.

Activity Cost Pool

A collection of all costs associated with a particular activity or process, enabling more accurate allocation of overhead costs to products or services.

Product Design Hour

Product design hour refers to the time spent on the creation and planning of new products, from conceptualization to final design.

Activity-Based Costing

A costing methodology that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.