Why Do Variances Have Little Meaning Until Their Causes Are

question 151

Multiple Choice

Why do variances have little meaning until their causes are identified?

• A)Because they cannot be calculated correctly until the causes are known
• B)Because identifying their causes allows manages to take correct action
• C)Because identifying their causes will immediately increase net income
• D)None of these ans choices are correct

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Definitions:

John Maynard Keynes

British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Aggregate Demand

Total economic desires for all goods and services at a uniform price level over a specific period.

Government Interference

Involvement by government in market operations, which can range from regulations and taxes to direct control and ownership of services.

Full Employment GDP

The output level of goods and services in an economy when all available labor resources are being used in the most economically efficient way.