Refer to the Information Provided in Table 21

question 1

Multiple Choice

Refer to the information provided in Table 21.3 below to answer the questions that follow.
Table 21.3
The data in the table was used to estimate the following consumption function: C = 20 + 0.2Y.
-Refer to Table 21.3. The error for point E is equal to

• A) -2.
• B) 0.
• C) +1.
• D) +3.

---

Definitions:

Standardized Products

Goods or services that are uniform in quality and performance, produced in large quantities, and often interchangeable.

Manufacturing Steps

Processes or stages involved in converting raw materials into finished goods.

Direct Labor

Direct labor refers to the wages or salaries paid to employees who are directly involved in the manufacturing or production of goods.

Overhead

The indirect costs or expenses incurred by a business that are not directly tied to specific product production or service.