The Stable to Declining Quality of the Labor Force in the United

question 188

Multiple Choice

The stable to declining quality of the labor force in the United States has been brought about by which of the following?

• A)The increasing number of immigrants in the work force
• B)The decline in the quality of our education system
• C)The higher level of living
• D)The exodus of highly educated citizens

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Definitions:

Physical Units

A measure of production output or inventory in terms of the actual number of units, as opposed to the cost or value of the units.

Percentage of Completion

A method of accounting for long-term contracts in which income is recognized as a proportion of work completed at certain stages.

Equivalent Units

A concept in cost accounting used to allocate costs to partially completed goods, converting them into the amount of finished goods units they represent.

Conversion Costs

Costs incurred by a company in the process of converting raw materials into finished goods, typically including labor and overhead.