In Class Regan Asserts That Every Country Should Focus on Job

question 11

Multiple Choice

In class Regan asserts that every country should focus on job creation for all adult citizens.Ronald interjects,"Regan,you're being ethnocentric." Why would Ronald say that?

• A) Globalization is increasing both the number of workers and the number of jobs.
• B) The number of wage labourers around the world is steadily falling.
• C) Almost 50 percent of the world's population makes their living off the land.
• D) The number of paid labour jobs in the developed industrial countries is falling.

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Definitions:

Variable Costing

An accounting method that includes only variable costs—direct materials, direct labor, and variable manufacturing overhead—in product cost calculations.

Absorption Costing

A product costing technique in accounting that involves adding direct materials, direct labor, and both kinds of manufacturing overhead—variable and fixed—to the product's cost.

Fixed Manufacturing Overhead

Costs that do not change with the level of production output, including rent, salaries of permanent staff, and depreciation of factory equipment.

Variable Costing

An accounting method that includes only variable production costs in the cost of goods sold, excluding fixed costs.