Which of the Following Is FALSE About Unemployment in the U.S

question 38

Multiple Choice

Which of the following is FALSE about unemployment in the U.S.?

• A)the unemployment rate in 2010 was higher than the unemployment rate in 1983
• B)with a few exceptions, the peak in the average length unemployment following a recession has risen steadily since the 1950s
• C)even four years after the official end of the Great Recession, long-term unemployment remained at levels previously unseen
• D)even during the Great Recession, the unemployment rate did not exceed 10 percent
• E)in 2011, roughly one out of six workers was either unemployed or underemployed.

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Definitions:

Direct Labor Time Variance

The difference between the estimated time to produce a good and the actual time taken, often used in cost accounting.

Actual Costs

Actual costs are the expenses that a company incurs for producing goods or services, including materials, labor, and overhead, as opposed to estimated or budgeted costs.

Standard Costs

The predetermined costs of manufacturing a product or providing a service, used as benchmarks against actual costs.

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity, multiplied by the standard cost per unit of material.