In February 2012, the Bureau of Labor Statistics Calculated the Unemployment

question 112

Multiple Choice

In February 2012, the Bureau of Labor Statistics calculated the unemployment rate to be 8.3%. If frictional unemployment was 2% and structural unemployment was 3.2%, then cyclical unemployment was _____%.

• A) 2.5
• B) 3.1
• C) 12.5
• D) 5.5

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Definitions:

Cost Of Serving

The total expenses incurred while delivering a service or product to a customer.

Direct Labor Cost

The expense related to the wages of workers directly involved in the production of goods or services.

Activity-Based Costing

A costing method that assigns costs to products or services based on the activities and resources that go into producing them, aiming for more accurate cost allocation.

Product Margin

The amount by which a product's selling price exceeds its cost of production, contributing towards covering fixed costs and profit.