A Country with More Exports Than Imports Experiences Which of the Following

question 31

Multiple Choice

A country with more exports than imports experiences which of the following?

• A) Trade barrier
• B) Trade gap
• C) Trade surplus
• D) Trade deficit
• E) Trade imbalance

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Definitions:

Material Used

The raw materials that have been consumed in the production process to create goods.

Total Labor Cost Variance

This refers to the difference between the actual labor costs incurred and the standard labor costs for the actual production levels.

Labor Per Unit

The amount of labor cost assigned to each unit of production.

Direct Labor

The wages of employees or workers who are directly involved in the production of goods or services.