Which Social Class Is Quickly Disappearing from Modern Economies

question 10

Multiple Choice

Which social class is quickly disappearing from modern economies?

• A)Upper Class
• B)Middle Class
• C)Lower Class
• D)The amount of people in each class has been about the same for the past 10 years.

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Definitions:

Variable Overhead

Indirect production costs that vary with the level of output, such as utilities for a manufacturing plant.

Direct Materials

Raw materials that can be directly attributed to the production of finished goods.

Direct Labor-Hours

Total working hours accrued by employees integral to the manufacturing sequence.

Variable Overhead

Costs of production that vary directly with the volume of output, such as utilities and labor efficiency.