Frictional Unemployment Is the Result of

question 67

Multiple Choice

Frictional unemployment is the result of

• A)technological change or foreign competition.
• B)a slowdown in the rate of economic expansion.
• C)the economy entering a strong expansion.
• D)normal labour market turnover.
• E)changes in the weather.

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Definitions:

Break-Even

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Sales Dollars

refers to the total revenue generated from selling goods or services before any deductions like returns or discounts are made.

Period Cost

Expenses that are not directly tied to production activities and are charged to the period in which they occur.

Absorption Costing

A financial approach that encompasses all production expenses - such as direct materials, direct labor, along with variable and fixed overheads - within the price of a product.