Which of the Following Topics Are More Likely to Be

question 3

Multiple Choice

Which of the following topics are more likely to be studied by a macroeconomist than by a microeconomist?

• A)the effect of taxes on the prices of airline tickets,and the profitability of automobile-manufacturing firms
• B)the price of beef,and wage differences between genders
• C)how consumers maximize utility,and how prices are established in markets for agricultural products
• D)the percentage of the labor force that is out of work,and differences in average income from country to country

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Definitions:

Direct Materials Price Variance

The difference between the actual cost and standard cost of materials used in production.

Direct Materials Quantity Variance

The difference between the actual quantity of direct materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Performance Evaluation System

A structured framework that systematically assesses and measures employee performance based on predefined criteria and objectives.

Bulk Purchase Discount

A reduction in price offered by suppliers to customers who buy large quantities of goods.