Which of the Following Is Correct

question 196

Multiple Choice

Which of the following is correct?

• A)U.S.exports as a percentage of GDP have about tripled since 1950.The U.S.currently has a trade deficit.
• B)U.S.exports as a percentage of GDP have about tripled since 1950.The U.S.currently has a trade surplus.
• C)U.S.exports as a percentage of GDP have about doubled since 1950.The U.S.currently has a trade deficit.
• D)U.S.exports as a percentage of GDP have about doubled since 1950.The U.S.currently has a trade surplus.

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Definitions:

Overhead Applied

The portion of manufacturing overhead costs allocated to individual products or job orders based on a predetermined overhead rate.

Products

Goods or commodities that are manufactured or refined for sale.

Variable Overhead Efficiency Variance

The difference between actual hours taken to produce something and the standard hours expected, multiplied by the variable overhead rate.

Budget Variance

The difference between the budgeted or planned amount of expense or revenue, and the actual amount incurred or received.