The Sectoral Shifts Explanation for Changes in the U

question 59

Multiple Choice

The sectoral shifts explanation for changes in the U.S. natural rate of unemployment over the past 50 years rests on the idea that oil-price volatility the rate of job .

• A)increased; separation
• B)decreased; separation
• C)increased; findings
• D)decreased; findings

---

Definitions:

LIFO

Last In, First Out, an inventory valuation method where the most recently produced items are recorded as sold first.

FIFO

An inventory valuation method where the first items produced or purchased are the first used or sold.

FIFO

"First In, First Out," an accounting method for valuing inventory where the first items placed in inventory are the first sold.

Current Costs

The costs that would have to be incurred to replace or reproduce an asset in the current period, under current market conditions.