The 1983 Report of the National Commission on Excellence in Education

question 28

Multiple Choice

The 1983 report of the National Commission on Excellence in Education cites the problems in education quality was

• A)the proliferation of remedial courses in college
• B)the continued decline in achievement test scores
• C)that educational skills of the current student generation will be lower than their parents
• D)the functional illiteracy of twenty-three million Americans
• E)all of the above

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Definitions:

Fixed Expenses

Expenses that remain constant regardless of any variations in the amount of goods produced or the volume of sales, like lease payments, wages, and insurance fees.

Break-even Point

The point at which total costs equal total revenue, meaning no profit or loss is made.

Contribution Margin Ratio

The percentage of each sales dollar remaining after variable costs have been deducted.

Fixed Expenses

Costs that do not change with the level of output or sales in the short term, such as rent or salaries.