Human Development Index Refers To

question 33

Multiple Choice

Human development index refers to:

• A)the value of the GDP divided by the population of the country.
• B)the value of all the goods and services produced by a country in a single year.
• C)the value of the GDP adjusted for purchasing power.
• D)the index that adjusts the exchange rate between countries to ensure that a good is purchased for the same price in the same currency.
• E)the measurement of a country's average achievements in health, knowledge, and a decent standard of living.

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Definitions:

Labour Hours

The total number of hours worked by employees during a specific period, often used to measure labor input in producing goods or services.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead costs incurred and the expected (or standard) costs for the achieved level of production.

Fixed Overhead Volume Variance

The difference between the budgeted and applied fixed overhead costs, attributed to variations in production volume.

Denominator Activity

relates to the level of activity used to allocate fixed overhead costs to units produced, which can affect the unit cost of production.