Brian Vargo,an Auto Repair Mechanic Who Remains Unemployed Because He

question 61

Multiple Choice

Brian Vargo,an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour,is

• A)counted as part of the labor force.
• B)considered frictionally unemployed.
• C)an underemployed worker.
• D)not counted as part of the labor force.
• E)considered as productively active.

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Definitions:

Depreciation Expense

An accounting method that systematically allocates the cost of a tangible asset over its useful life.

Commercial Substance

A situation in future cash flows of a business that are expected to change significantly due to a transaction, indicating the transaction has economic impact.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a company's assets over time.

Trade-In Allowance

The amount deducted from the price of a new item for trading in something old.