Variable Costs Are to Fixed Costs as

question 11

Multiple Choice

Variable costs are to fixed costs as

• A) electric bills are to monthly rent charges.
• B) monthly rent charges are to electric bills.
• C) costs incurred are to future costs.
• D) liability insurance costs are to salaries.

---

Definitions:

Year 2021

The period of time that began on January 1, 2021, and ended on December 31, 2021.

Economy

A system by which goods and services are produced, distributed, and consumed within a society or geographical area.

Phillips Curve

An economic theory that suggests an inverse relationship between the rate of inflation and the rate of unemployment within an economy.

Government Policy

The actions, laws, or regulations established by governments to guide economic, social, and administrative issues.