Some People Who Are Employed or Who Are Not Making

question 156

Multiple Choice

Some people who are employed or who are not making serious effort to find employment will report themselves as unemployed.Some people who want to find work will be counted as out of the labor force.

• A)Both the first and the second fact tend to make the reported unemployment rate lower than otherwise.
• B)Both the first and the second fact tend to make the reported unemployment rate higher than otherwise.
• C)The first fact tends to make the reported unemployment rate higher than otherwise,while the second fact tends to make the reported unemployment rate lower than otherwise.
• D)The first fact tends to make the reported unemployment rate lower than otherwise,while the second fact tends to make the reported unemployment rate higher than otherwise.

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Definitions:

Unit Product Cost

The cost of producing one unit of a product, including direct materials, direct labor, and manufacturing overhead.

Absorption Costing

A costing approach that integrates both direct and indirect costs associated with manufacturing into the product's total cost.

Ending Inventory

The value of the goods available for sale at the end of an accounting period, calculated as beginning inventory plus purchases minus cost of goods sold.

Variable Costing

A costing method where only variable costs are considered when determining the cost of goods sold, excluding fixed overhead.