Frictional Unemployment

question 195

Multiple Choice

Frictional unemployment:

• A)occurs only during expansions.
• B)is due to time workers spend in job search.
• C)is the difference between cyclical unemployment and the natural rate of unemployment.
• D)hasn't occurred since the 1930s.

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Definitions:

Flexible Budgeting

An approach in budgeting that allows for adjusting budget allocations based on varying levels of activity or output.

Unfavorable Variance

A situation where actual costs exceed the standard or budgeted costs, often indicating inefficiencies or increased expenses.

Favorable Variance

A financial term indicating that actual costs were lower or revenues were higher than planned.

Budgeted Amount

The projected costs or revenues allocated to a specific activity or period, based on estimates.