Figure 20-1 Number of Poor

question 85

Multiple Choice

Figure 20-1
Number of Poor
-Refer to Figure 20-1.The absolute number of people in poverty

• A) is higher in 2001 than in 1959.
• B) is lower in 2001 than in 1959.
• C) has not changed between 1959 and 2001.
• D) has steadily decreased between 1959 and 2001.

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Definitions:

Variable Costs

Variable costs are expenses that vary directly with the level of production or sales volume, such as materials and labor.

Fixed Costs

Costs that do not vary with the level of production or sales, remaining constant regardless of business activity levels.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual products or job orders.

Estimated Machine-Hours

The anticipated amount of machine time required to complete a job or process.