The Full-Employment Rate of Unemployment Is Also Called The

question 65

Multiple Choice

The full-employment rate of unemployment is also called the:

• A) Potential rate of unemployment
• B) Cyclical rate of unemployment
• C) Frictional rate of unemployment
• D) Natural rate of unemployment

---

Definitions:

Variable Costing

A pricing strategy that incorporates only variable manufacturing expenses such as direct materials, direct labor, and variable factory overhead into the cost of products.

Absorption Costing

A method of cost calculation that takes into account all expenses related to manufacturing, such as direct materials, direct labor, and all overheads, whether fixed or variable, in determining a product's cost.

Production Cost

The total cost of materials, labor, and overheads incurred in the production of goods or services.

Per Unit

A term referring to a measurement or cost on an individual item or quantity basis.