If the Wage Is Kept Above the Equilibrium Wage for Any

question 17

Multiple Choice

If the wage is kept above the equilibrium wage for any reason,the result is

• A)cyclical unemployment.
• B)frictional unemployment.
• C)seasonal unemployment.
• D)structural unemployment.

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated for financial reporting and tax purposes.

Cost of Goods Sold

Cost of goods sold (COGS) is the direct cost attributed to the production of the goods sold by a company, including the material and labor expenses.

Gross Profit

The distinction between sales income and the expense of goods sold prior to subtracting overhead costs, wages, taxes, and interest charges.

Periodic

Relating to or occurring at regular intervals; in accounting, it may refer to methods or adjustments made at regular intervals, such as the Periodic Inventory Method.