The Current Stated Fiscal Policy of Both Major Australian Political

question 107

Multiple Choice

The current stated fiscal policy of both major Australian political parties is to:

• A) run deficits when economic growth is high.
• B) run surpluses when economic growth is low.
• C) have a balanced budget over each fiscal year.
• D) have a balanced budget over the course of the business cycle.

---

Definitions:

Overhead Applied

The portion of overhead costs allocated to individual product units or service engagements based on a predetermined rate.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to related products and services based on the activities that it requires.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to related products and services based on the activities that drive costs.

Overhead Applied

The portion of overhead costs allocated to individual products or job orders based on a predetermined rate or method.