All of the Following Are TRUE About the Collectivist Consensus

question 26

Multiple Choice

All of the following are TRUE about the collectivist consensus that existed in Great Britain following World War II EXCEPT that it

• A) was inspired by the suffering shared by Britons during World War II.
• B) led to the direct ownership by the British state of its key industries.
• C) accepted the policy of full employment.
• D) led to the expansion of the social welfare state and its services.
• E) was only promoted by a succession of left-leaning Labour governments until the 2008 global economic crisis.

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Definitions:

Variable Costs

Costs that vary directly with the level of production output or sales volume, such as materials and labor.

Activity Level

The volume of work or the number of transactions handled by a business or department, which can drive the allocation of costs based on activity-based costing principles.

Fixed Costs

Overheads that stay the same no matter the quantity of goods produced or sold, like rent, salaries, and insurance.

Activity Level

A measure of the volume of work or production capability, often used in cost accounting to determine appropriate cost allocations.