Answer:
II. Prevention costs are costs that are incurred to prevent the sale and production of defective units.
Answer:
Typical of a cross section of the population
Explanation:
Each state in the U.S have state legislators who are elected by the citizens of the states who are eligible to vote therefore most state legislators are a typical cross section of the population in the state that they are serving as a legislator in the state legislative arm of Government.
The state legislature helps in approving the budget, initiating impeachment processes and also deliberate issues brought to it by the Governor. the legislature initiates tax legislation in the states hence one can say the most state legislators represents the cross section of the population.
Answer:
It distorts relative prices, causing a misallocation of resources.
Explanation: Inflation is an economic term used to describe a situation in a country's market when there is a sudden rise in commodities sold in the market. Inflation can be as a result of an increase in demand of commodities sold in the market.
It has a negative effect, when the prices are distorted and the purchasing power is not properly allocated to the buyers.
The answer is.. Inside Lag