A Trade Deficit Means a Net

question 177

Multiple Choice

A trade deficit means a net

• A)inflow of payments for goods and services.
• B)outflow of goods and services.
• C)inflow of goods and services.
• D)excess of exports over imports.

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Definitions:

Cash Account

An account that records cash transactions both received and expended, reflecting the cash position of a business at any given time.

Raw Material

Raw material refers to the basic, unprocessed inputs used in the production of goods and services; they are the essential components required in the manufacturing process.

Standard Costs

Predetermined costs for products or services, used as benchmarks to measure actual production costs.

Cash Account

An account that reflects the amount of cash a company has on hand, which includes currencies, checks, and balances in bank accounts.