Let's Say You Are Best at Building with Your Hands

question 30

Multiple Choice

Let's say you are best at building with your hands and you become a carpenter working for a local building contractor.A friend of yours is very good at programming computers,so he or she works at IBM.Yet another friend excels at science,so he or she goes to medical school and becomes a physician.Each of you is paid the exact same salary and each of you lives in the same neighborhood and drives the same type of car.What standard of equality would this be an example of?

• A) equality of opportunity
• B) ontological equality
• C) equality of condition
• D) equality of outcome

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Definitions:

Fixed Overhead

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance expenses.

Direct Labor

Refers to the wages or salaries paid to employees directly involved in the production of goods or services.

Direct Materials

Raw materials that can be directly linked to the production of a specific product.

Fixed Overhead

Regular, ongoing expenses that are not affected by changes in production level or output, such as rent and insurance.