Between 2001-2005

question 86

Multiple Choice

Between 2001-2005,

• A) both sub-prime and adjustable rate mortgages decreased as a share of the total.
• B) both sub-prime and adjustable rate mortgages increased as a share of the total.
• C) sub-prime loans increased, but adjustable rate loans decreased as a share of the total.
• D) sub-prime loans decreased, but adjustable rate loans increased as a share of the total.

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Definitions:

Standard Costs

Pre-determined or estimated costs used for planning and control purposes, often used to measure performance by comparing them with actual costs.

Direct Labour

The wages and other compensation paid to employees who are directly involved in producing goods or providing services.

Labour Rate Variance

The difference between the actual cost of labor and the expected (or standard) cost of labor for the actual production level.

Labour Efficiency Variance

A measure used in accounting to indicate the difference between the actual number of labor hours used and the standard number of hours that should have been used, multiplied by the standard labor rate.