In Response to the Demographic Decline in the 1970s and 1980s

question 18

Multiple Choice

In response to the demographic decline in the 1970s and 1980s, Europe tried to regain laborers through ______________.

• A) extensive training programs for the unemployed
• B) offering opportunities for work but not citizenship to guest workers
• C) extending the age of retirement to seventy-five
• D) decreasing taxes to attract more émigrés
• E) active recruitment at universities in Third World nations

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Definitions:

Variable Costing

An accounting method that includes only variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product cost calculations, excluding fixed overhead.

Break-Even Sales

The amount of revenue from sales at which a business covers its costs, without making a profit or incurring a loss.

Common Fixed Expenses

Overheads that are consistent in amount across different business segments, departments, or products.

Operating Period

The time frame during which a business operates to achieve its set objectives, which can be measured daily, monthly, quarterly, or annually.