Rapidly Increasing Child Daycare Costs Have Been a Major Political

question 184

Multiple Choice

Rapidly increasing child daycare costs have been a major political concern since well before 1992.Suppose that the government sets the maximum price for daily child daycare expenses at $20 per day,but the current market price is $40 per day.What is MOST likely to happen?

• A) More people will try to get access to the lower-cost child daycare,but there will be fewer daycares with spots available at that price.
• B) The same number of people will try to get access to daycare,and the same number of childcare centres are willing to accept them at that price.
• C) More people will have access to daycare,since the price is lower.
• D) Fewer people will try to enrol their children in daycare,and fewer daycare centres will be accepting new children at that price.

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Definitions:

Direct Labor Hours

A measure of the total hours worked by workers who are directly involved in the manufacturing process.

Small Table Lamp Production

The manufacturing process involved in creating small, portable lighting devices designed to stand on tables.

Single Plantwide Rate

An accounting method applying one overhead cost rate to all products, regardless of the department in which they were produced, simplifying the allocation of manufacturing overhead costs.

Painting Department

A specific section within a manufacturing or production facility responsible for the application of paint or coatings to products as part of the finishing process.