If the Number of Employees Who Quit, Are Fired, or Retire

question 154

Multiple Choice

If the number of employees who quit, are fired, or retire increases while the hiring of new employees declines, this indicates that the

• A)labor demand curve is shifting to the right.
• B)labor supply curve is shifting to the right.
• C)labor demand curve is shifting to the left.
• D)labor supply curve and labor demand curve are both shifting to the right.

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Definitions:

Job-Order Costing

A cost accounting system that assigns costs to specific batches or job orders, suitable for customized products.

Raw Materials

The basic substances in their natural, modified, or semi-processed state used as inputs for production.

Production

Production is the process of combining various material and immaterial inputs to make something for consumption or use, often involving manufacturing or creation processes.

Job-Order Costing

A costing method that assigns costs to specific production jobs or batches, useful in customized or small batch productions.