Which of These Was a Consequence of the Race to the Top

question 55

Multiple Choice

Which of these was a consequence of the Race to the Top initiative?

• A) States have begun to adopt performance-based teacher evaluations.
• B) The unemployment rate has steadily declined.
• C) The federal government has left the financial markets to regulate themselves.
• D) Several new banks have emerged.

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Definitions:

Standard Costing

A cost accounting system that uses pre-determined costs to value the cost of goods sold and assess the performance.

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, often indicating productivity levels.

Variable Overhead

Costs that vary with the level of production output, such as utilities for a manufacturing plant, which increase with more production.

Labour Rate Variance

The difference between the actual cost of labor and its expected cost based on standards set for production.