Some Individuals Are Unemployed Because It Takes Time for Them

question 72

Multiple Choice

Some individuals are unemployed because it takes time for them to find a job that fits their skill set.These individuals would be considered to be:

• A) frictionally unemployed.
• B) cyclically unemployed.
• C) structurally unemployed.
• D) overemployed.
• E) discouraged workers.

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Definitions:

Actual Costs

The real financial expenditures that a company incurs, as opposed to budgeted or estimated costs.

Standard Materials Quantity

The predetermined amount of materials expected to be used in the production of a single unit or a batch of product, under normal conditions.

Direct Labor Hour

A measure of the labor time specifically involved in the direct manufacture of products, not including indirect tasks.

Direct Labor Rate Variance

It's a measure used in cost accounting to determine the difference between the actual labor cost per hour and the expected (or standard) cost per hour.