The Following Table Contains Hypothetical Data for the U

question 22

Multiple Choice

The following table contains hypothetical data for the U.S. balance of payments in a year. Answer the following question on the basis of these data. All figures are in billions of dollars. U.S.
Refer to the table above. The balance of trade in goods and services was:

• A) $107 billion surplus
• B) $82 billion deficit
• C) $115 billion deficit
• D) $55 billion surplus

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Definitions:

Remanufacturing

Remanufacturing is the process of refurbishing used products to a like-new condition, often involving disassembly, cleaning, repairing, replacing parts, and reassembly.

Materials Cost

Represents the expense associated with the raw materials and components used in the manufacturing of a product.

Mass Customization

A strategy that combines the efficiency of mass production with the personalization of custom-made goods or services, allowing for individual customer preferences at scale.

Flexible Manufacturing Systems

An approach to production that enhances efficiency by easily adapting to changes in product type and volume, often relying on automation and technology.