Malthus Predicted That the Power of Population

question 55

Multiple Choice

Malthus predicted that the power of population

• A)was greater than the power of the earth to produce subsistence.His forecast was on the mark.
• B)was greater than the power of the earth to produce subsistence.His forecast was off the mark.
• C)was less than the power of the earth to produce subsistence.His forecast was on the mark.
• D)was less than the power of the earth to produce subsistence.His forecast was off the mark.

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Definitions:

Absorption Costing

This method in accounting ensures that the costing of a product fully reflects all manufacturing expenses, which cover direct materials, direct labor and all overhead costs, fixed and variable alike.

Variable Costing

This is an accounting technique that incorporates only the variable costs of production, including direct materials, direct labor, and variable manufacturing overhead, into the costs of products.

Break-even Sales

The amount of revenue needed to cover total fixed and variable costs, resulting in neither profit nor loss.

Variable Costing

An accounting method that includes only variable production costs (direct labor, direct materials, and variable overhead) in product costs, excluding fixed overhead costs.