-Refer to Exhibit 6-2

question 86

Multiple Choice

-Refer to Exhibit 6-2.The labor force participation rate in year 3 is

• A) 12 1/2 percent.
• B) 70 percent.
• C) 80 percent.
• D) 30 percent.
• E) 50 percent.

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Definitions:

Direct Expenses

Direct expenses are costs that can be directly traced to a specific department, project, or activity, such as raw materials and labor used in the production of goods.

Cycle Efficiency

The effectiveness and efficiency of a business process or cycle in achieving its objectives without waste.

Days

A unit of time measurement equal to 24 hours, often used in business to measure durations such as payment terms and production cycles.

Purchasing Department

A division within a company responsible for acquiring goods and services needed for business operations.