The U.S.middle Class Consists Primarily of Blue-Collared Workers

question 8

True/False

The U.S.middle class consists primarily of blue-collared workers.

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Definitions:

Excess Capacity

The amount by which the actual production of a company exceeds its planned production capacity.

Variable Production Costs

Expenses that change in direct proportion to the level of production output.

Cost-Volume-Profit Analysis

An accounting method used to determine how changes in costs and volume affect a company's operating income and net income.

Contribution Format

An income statement format that separates fixed and variable costs, showing the contribution margin which covers fixed costs and profits.