The Purpose of the Labour Force Survey Is to Determine

question 92

Multiple Choice

The purpose of the Labour Force Survey is to determine the

• A)number of people in the population.
• B)age structure of the population.
• C)income level of the population.
• D)employment status of the population.
• E)prices consumers pay for the goods and services they buy.

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Definitions:

Spending Variance

The difference between the actual amount of money spent and the budgeted or planned amount of expenditure.

Cost Formula

An equation used to predict the total cost of production, combining both fixed and variable costs, based on the level of activity or volume.

Indirect Materials

Small items of material such as glue and nails that may be an integral part of a finished product, but whose costs cannot be easily or conveniently traced to it.

Variable Cost

is a cost that varies with the level of output or activity, such as raw materials or piece-rate labor.