To Increase Living Standards, What Should Public Policy Do

question 89

Multiple Choice

To increase living standards, what should public policy do?

• A) ensure that workers are well educated and have the necessary tools and technology
• B) make unemployment benefits easier to obtain
• C) move workers into jobs directly from high school
• D) ensure that workers have access to union membership and benefits

---

Definitions:

LIFO Inventory Valuation

Last-in, first-out method, an inventory costing method where the last items purchased are the first ones considered sold.

Phantom Profits

Profits that are recorded on the books but do not result in an actual cash benefit, often due to accounting practices or non-cash expenses.

Paper

Paper refers to a thin material composed of processed cellulose fibers derived from wood, rags, or grasses, and used for writing, printing, or packaging.

Unit Price

The cost assigned to a single unit of a product or service, which helps consumers compare prices and make purchasing decisions.