If a Country Exports More Than It Imports,then It Has

question 147

Multiple Choice

If a country exports more than it imports,then it has

• A)positive net exports and positive net capital outflows.
• B)positive net exports and negative net capital outflows.
• C)negative net exports and positive net capital outflows.
• D)negative net exports and negative net capital outflows.

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Definitions:

Labor Rate Variance

The variance between the real labor costs and the projected or normative labor costs.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected (or standard) variable overhead based on output levels.

Direct Materials Purchases Variance

The difference between the actual cost of direct materials purchased and the expected cost, based on standard prices and quantities.

Standard Costs

Predetermined or estimated costs used for budgeting and measuring performance, typically under ideal operating conditions.