The BARS and MSS Were Originally Developed in Part to Eliminate

question 33

Multiple Choice

The BARS and MSS were originally developed in part to eliminate rating errors.Do they?

• A)No,they are as prone to rating errors as other measures.
• B)Somewhat,they decrease halo and leniency error only.
• C)Yes,they consistently decrease all types of rater error.
• D)It is unclear and more studies are needed to answer this question.

Examine the theoretical underpinnings of the Phillips curve, including criticisms and alternative viewpoints.

Understand the concept of disinflation and distinguish it from inflation and deflation.

Describe the relationship between disinflation, unemployment rate, and output as explained by the Phillips curve.

Calculate and interpret the sacrifice ratio in scenarios of disinflation.

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Definitions:

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on standard cost.

Materials Price Variance

The difference between the actual cost of raw materials and the standard or expected cost, multiplied by the quantity of materials purchased.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (or budgeted) variable overhead based on a standard rate.

Labor Efficiency Variance

measures the difference between the actual labor hours used and the standard labor hours expected for the production achieved, indicating labor efficiency.