Assume That a Value Stream in Elite Company Has Two

question 95

Multiple Choice

Assume that a value stream in Elite Company has two products with material costs of $40,000 and $80,000 for a given week.The conversion costs for the week amounted to $360,000.The units produced for the first product are 21,000 with 20,000 shipped to customers.For the second product, 40,000 units were produced and shipped.Calculate the cost per unit for the first product.(Note: Round to two decimal places.)

• A) $9.00 per unit
• B) $6.00 per unit
• C) $8.00 per unit
• D) $3.00 per unit

Analyze the consequences of increasing U.S. trade deficits.

Recognize the impact of the federal budget on interest rates, the U.S. dollar value, and the foreign trade balance.

Grasp the concept of public debt in relation to GDP and its implications on economic growth.

Understand the mechanics and implications of government spending, the deficit, and the national debt.

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Definitions:

Farming

Farming is the practice of cultivating crops and raising livestock for food, fiber, and other products essential to human survival and economic activities.

Aggregate Demand

The complete need for products and services in a specific market area.

Aggregate-Demand Curve

An illustrative chart that demonstrates how the general price level within the economy correlates with the total demand for goods and services at that level.

Short Run

A time period in economics during which at least one input is fixed, typically considered to be within a few months to a year.