A Person Who Is Not Employed and Claims to Be

question 21

Multiple Choice

A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job is

• A)counted as out of the labor force but should be counted as unemployed.
• B)counted as unemployed but should be counted as out of the labor force.
• C)correctly counted as out of the labor force.
• D)correctly counted as unemployed.

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Definitions:

Break-Even

The point at which total costs equal total revenue, resulting in neither profit nor loss.

Sales Dollars

The total monetary amount received from selling goods or services before any deductions are made.

Absorption Costing

An accounting method that includes all manufacturing costs, both variable and fixed, in the calculation of the cost per unit of goods produced.

Variable Costing

A cost accounting method that includes only variable production costs (direct labor, direct materials, and variable manufacturing overhead) in product costs.