Which of the Following Is Not a Macroeconomic Statement

question 16

Multiple Choice

Which of the following is not a macroeconomic statement?

• A)The unemployment rate for the United States rose to 5 percent in the last quarter.
• B)The Federal Reserve lowered interest rates at its last meeting.
• C)Congress increased the minimum wage rate in January.
• D)Jenny's wage rate rose,and in response,she decided to work more hours.

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Definitions:

Variable Overhead

Costs that vary with the level of production or business activity, such as utilities and indirect materials, but do not directly correlate to direct labor or materials.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead costs incurred and the expected (or standard) costs, based on efficient usage of resources.

Actual Labour Hours

The real amount of labor time spent by employees on the production of goods or provision of services.

Standard Labour Rate

The pre-determined cost per unit of labor time, used in calculating labor expenses in manufacturing.