Full Employment Is Defined by Most Economists as the Minimization

question 187

Multiple Choice

Full employment is defined by most economists as the minimization of

• A)cyclical unemployment.
• B)frictional unemployment.
• C)seasonal unemployment.
• D)structural unemployment.

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Definitions:

Variable Administrative Expense

Indirect costs that change in proportion with the level of a company’s production or sales activities.

Fixed Administrative Expense

Expenses that do not change with the level of production or sales over a certain period, related to the administration of a business.

Contribution Format

An income statement format that separates fixed and variable costs to show the contribution margin.

Contribution Format

A type of income statement that separates variable costs from fixed costs, highlighting the contribution margin.