The Large Increases in the Deficit During the 1980s in the United

question 79

Multiple Choice

The large increases in the deficit during the 1980s in the United States were associated with

• A)large increases in public saving.
• B)no change in public saving.
• C)large increases in private saving.
• D)all of the above
• E) none of the above

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Definitions:

Raw Material

The basic materials and substances used in the initial stages of production to manufacture goods.

Work in Process

Inventory that includes materials that are currently being processed into finished goods but are not yet complete.

Property, Plant, and Equipment

Long-term tangible assets used in the operation of a business that are expected to be used over several years, including buildings, machinery, and vehicles.

Direct Materials Variances

The difference between the budgeted cost of direct materials and the actual cost incurred.