Which of the Following Is an Accurate Statement About Unemployment

question 7

Multiple Choice

Which of the following is an accurate statement about unemployment during the New Deal?

• A) It never fell below 75 percent.
• B) As late as 1939 more than 17 percent of the labor force remained jobless.
• C) New Deal social and economic programs virtually eliminated unemployment for the first time in American history.
• D) The jobless rate crept steadily upward from 1932 until 1945.
• E) It never exceeded 7.5% even though politicians exaggerated the crisis for their own benefit.

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Definitions:

Conversion Costs

Conversion costs represent the combined costs of direct labor and manufacturing overheads incurred to convert raw materials into finished goods.

Equivalent Unit

A measurement used in process costing to equate the work done on units in progress to a number of fully completed units.

Weighted-Average Method

An inventory valuation method that calculates the cost of goods sold and ending inventory based on the average cost of all units available.

Conversion Costs

Costs incurred to convert raw materials into finished goods, including direct labor and manufacturing overhead.