The Equilibrium Level of Employment,achieved After the Complete Adjustment of Wages

question 57

Multiple Choice

The equilibrium level of employment,achieved after the complete adjustment of wages and prices,is known as the

• A)zero-unemployment level of employment.
• B)natural state.
• C)invisible handshake.
• D)full-employment level of employment.

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Definitions:

Budgeting

The practice of formulating a budget to dictate how you’ll use your money, identifying prospective financial aims and the approaches to attain them.

Activity Variance

The gap between planned activity levels and actual outcomes in any sphere of operations, reflecting operational efficiency and planning accuracy.

Selling And Administrative Expenses

Costs related to sales activities and general management of a business, excluding production costs.

Budgeting

The process of creating a plan to spend money, setting forth projections for revenues and expenses over a certain period of time.