Which One of the Following Is a True Statement

question 24

Multiple Choice

Which one of the following is a true statement?

• A)Higher levels of education are associated with higher levels of structural unemployment
• B)During a recession,cyclical unemployment rises but structural unemployment falls
• C)Historically,technological change has created more jobs than it has made obsolete
• D)During a recession,most unemployment is structural unemployment

Define and differentiate between calendar year, accounting period, and fiscal year.

Recognize the proper use and significance of the posting reference column in the ledger.

Prepare and record transactions in journal entries.

Understand the purpose and process of posting transactions from the journal to the ledger.

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Definitions:

Economic Growth

An increase in a country's capacity to produce goods and services, reflected over time in a rise in the national income and standard of living.

Production Possibilities Curve

A graphical representation showing the maximum quantity of goods and services that can be produced within an economy given available resources and technology.

Unemployment Rate

The segment of individuals in the labor force who are not in employment but are looking for jobs actively.

Opportunity Cost

The value of the best alternative forgone when a decision is made to pursue a particular action or resource allocation.