What Differentiates the U

question 143

Multiple Choice

What differentiates the U.S.income inequality ratio from that found in less-developed countries?

• A) It is higher than in less-developed countries due to the large number of poor people.
• B) In less-developed countries,the inequality ratio is lower than in the United States due to the large number of rich people.
• C) In the United States,it is lower than that found in less-developed countries because the poor in the United States earn more than the poor in less-developed countries.
• D) There is no significant difference between the inequality ratios in the United States and in less-developed countries.
• E) In the United States,it is lower than in less-developed countries due to corruption.

---

Definitions:

Equivalent Units

Definition: A concept in cost accounting, equivalent units measure the amount of work done on partially finished goods, expressed in terms of fully completed units.

Direct Materials

Raw materials that can be directly attributed to the production process of a good or service and are an integral part of the finished product.

FIFO

An inventory valuation method where the first items purchased are the first ones to be used or sold.

Cost Per Unit

The total expense involved in creating a product, divided by the number of units produced, giving a per-unit cost.