In Terms of the Competing Claims of Equality and Efficiency

question 246

Multiple Choice

In terms of the competing claims of equality and efficiency, in the United States we have

• A)chosen greater wage inequality for lower unemployment.
• B)chosen higher unemployment for less wage inequality.
• C)both greater wage inequality and higher unemployment.
• D)not faced a trade-off between wage inequality and unemployment.
• E)been able to choose both less wage inequality and lower unemployment.

---

Definitions:

Activity Level

A measure of the amount of work performed or units produced, used often in costing to allocate fixed costs properly.

Manufacturing Overhead

All manufacturing costs that are not directly related to the production of a product, such as factory rent, utilities, and maintenance.

Flexible Budget

A customizable budget that adjusts based on operational volume or activity fluctuations.

Activity Level

A factor that measures the amount of production or work accomplished, often used in cost accounting to determine costs based on different levels of operation.