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Statement I: The dissolving of the Soviet Union in 1991 resulted in a "peace dividend" for the United States that enabled us to divert tens of billions of dollars a year from military spending toward much more productive uses.
Statement II: By the end of the 20th century the United States faced no economic problems and "we were clearly at the top of our game".
Estimated Labor-Hours
The projected number of labor hours required to complete a batch of goods or provide a service.
Predetermined Overhead Rate
A rate used to allocate estimated overhead costs to products or job orders, based on a planned level of activity or driver.
Unused Capacity
Resources available for use that are not being employed in production, often representing inefficiency.
Estimated Activity
An approximation of the level of effort, production volume, or usage that forms the basis for budgeting and costing activities.
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